Which of the Following Is an Example of a Convenience

question 92

Multiple Choice

Which of the following is an example of a convenience product?

• A) Sun Life life insurance
• B) Ford Mustang automobile
• C) M&M's Candy
• D) LG refrigerator
• E) Sklar Peppler furniture

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Definitions:

Breach of Contract

A violation of the terms or conditions as stated in a contract, which may result in legal action or penalties against the party at fault.

Fair Market Value

The price at which property would sell for on the open market between a willing buyer and a willing seller, both having reasonable knowledge of the relevant facts.

Valid Consideration

An essential element in the formation of a contract, referring to something of value (such as goods, services, or money) exchanged by the parties that induces them to enter into the agreement.

Illusory Consideration

An apparent promise or agreement that lacks a real commitment and therefore does not form a binding contract.