The Principle of Good Faith Applies to Both Parties to a Sales

question 5

True/False

The principle of good faith applies to both parties to a sales contract.​

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Definitions:

Competitive Equilibrium

Competitive Equilibrium is a state where supply equals demand, market resources are efficiently allocated, and no participant in the market can influence the price of goods or services.

Price Adjustment

The process by which prices of goods and services are altered to respond to changes in the market conditions.

Apples

A widely cultivated fruit that grows on apple trees, and is consumed worldwide for its sweet flavor.

Oranges

A citrus fruit known for its round shape and orange color, which is rich in vitamin C.