McSweeney Agrees to Clear Out Brown's Basement, but No Price

question 24

True/False

McSweeney agrees to clear out Brown's basement, but no price is set at the time. Brown argues, once McSweeney has done the work, that since no price was agreed upon he should pay only a reasonable price and not the excessive amount stated in the bill presented to him by McSweeney. He is right.

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Definitions:

Facilitating Functions

include activities that help in the smooth execution of transactions and exchanges in the marketplace, such as logistics, financing, and information provision.

Purchasing Products

The process of acquiring goods or services to fulfill the needs or requirements of a business or consumer.

Resale

The act of selling a product or service to another party after it has been purchased from the original seller.

Transactional Function

A business activity that involves the buying and selling of goods and services, including all processes that enable these transactions.