All Collateral Promises Must Be in Writing to Be Enforceable

question 46

True/False

All collateral promises must be in writing to be enforceable.​

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Definitions:

Product Development

The complete process of bringing a new product to market, from ideation through design, development, and introduction.

Market Performance

An assessment of a company's effectiveness in selling its products or services, often measured by market share, sales volume, and profitability.

Financial Performance

A measure of how well a company can use assets from its primary mode of business and generate revenues, reflecting the financial health and profitability of the business.

Sales Account

A customer's record with a company, detailing their purchases, transactions, and preferences.