When Classifying a Product as a Consumer Product or a B2B

question 196

True/False

When classifying a product as a consumer product or a B2B product, the primary factor to consider is the financial status of the buyer.

---

Definitions:

Predominant Purpose

The main intent or objective behind a contract or transaction, often used to interpret the nature of the agreement.

Auto-parts Manager

A professional responsible for overseeing the operations and inventory of an auto-parts store or department.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise considered binding, not because of a formal contract, but because it was relied upon by another to their detriment.

Quasi-contract

A legal concept where a court imposes an obligation on a party to prevent unjust enrichment or unfair benefit at the expense of another, even if no actual contract exists.