The Disadvantages of Buying with Specifications Include

question 3

Multiple Choice

The disadvantages of buying with specifications include:

• A)the seller will be responsible for performance.
• B)specifications can add costs.
• C)the potential for disqualifying or discouraging potential suppliers.
• D)the seller will be responsible for performance and specifications can add costs.
• E)specifications can add costs and the potential for disqualifying or discouraging potential suppliers.

Identify the purposes of advertising law in relation to online businesses.

Understand the principles of bankruptcy and the discharge of business debts.

Discover the advantages and regulations surrounding crowdfunding for small businesses.

Grasp the legal implications of partnership actions and the liability of partners.

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Definitions:

Liabilities Priority

The order in which obligations or debts of a company or individual are to be paid if there are insufficient assets to pay all liabilities in full.

Fraudulent Act

refers to any deliberate deception intended to secure an unfair or unlawful gain, or to deprive a victim of a legal right.

Liability to the Partnership

Obligations or debts for which a partnership is responsible, including those incurred by individual partners acting within the scope of their partnership activities.

Share Profits and Losses

The principle of dividing the financial outcomes of business operations, both positive and negative, among the participants according to an agreed-upon formula.