A Marketing Representative Who Is Tempted to Engage in Price-Fixing

question 21

Multiple Choice

A marketing representative who is tempted to engage in price-fixing due to heavy competition and similar prices for competitors' products should:

• A) emphasize factors of her product that do not involve price.
• B) emphasize service, reliability, and other factors of her company.
• C) understand the serious criminal and civil penalties of engaging in price-fixing.
• D) All the above.

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Definitions:

Proper Consideration

The legal requirement for contracts, entailing something of value being exchanged between parties.

Consideration

Something of value promised to another when making a contract that compels them to enter into the agreement; an essential element in the formation of a legally binding contract.

Promise

A declaration or assurance that one will do something or that a particular thing will happen, often forming the basis of a contract.

Requirements Contract

A contract in which one party agrees to supply as much of a product or service as the other party needs.