Edmond Is Negotiating to Purchase an Existing Business

question 63

Multiple Choice

Edmond is negotiating to purchase an existing business. One provision he should write into the sale contract is

• A) access to the seller's customer list.
• B) disclosure of the business's revenues for the last year.
• C) a statement of the royalties payable to the seller.
• D) a noncompete agreement.

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Definitions:

Endocrine

Pertaining to glands that secrete hormones directly into the blood, regulating various bodily functions such as growth, metabolism, and reproduction.

Nervous

Relating to the nerves or the nervous system, responsible for transmitting messages throughout the body.

Digestion

The biological process by which food is broken down into smaller components, so the body can absorb and utilize nutrients.

Endocrine System

The system of glands that produce and secrete hormones into the bloodstream to regulate the body's growth, metabolism, and function.