An Exclusive Dealing Contract Is One Type of Contract Which

question 9

True/False

An exclusive dealing contract is one type of contract which is illusory because it lacks consideration.

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Definitions:

Customer Discount

A reduction in the price of goods or services offered to customers, usually to encourage prompt payment or increase sales volume.

Trade Discounts

A reduction in the listed price of a product or service, offered by sellers to buyers in the commercial market.

Sales Tax

A government-imposed tax on the sale of goods and services, which is typically a percentage of the sales price paid by the consumer.

Sales Account

An account in a company's financial records that tracks the revenue generated from goods and services sold.