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Charles took a lot of time looking at locations for his new store. He wanted it to be convenient for his customers to get to, but also in an area that would draw new customers. Charles is focusing on which function of the four Ps?
Liquidated Damage Clauses
Provisions in a contract specifying a predetermined amount of damages to be paid if one party breaches the contract.
Void
A term describing a contract or legal agreement that lacks legal force or validity from the outset.
Condition Precedent
In a contract, an event that must occur for a party’s duty to arise.
Condition Subsequent
In a contract, a future event that terminates the obligations of the parties when it occurs.
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