John Created Acme Online to Allow Paper Suppliers to Compete

question 47

Multiple Choice

John created Acme Online to allow paper suppliers to compete for manufacturers' orders over the Internet in live auctions. This model would best be described as

• A) B2B.
• B) B2C.
• C) C2B.
• D) C2C.

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Definitions:

Anticipatory Breach

An act where one party ahead of time indicates that they will not fulfill their contractual obligations, allowing the other party to consider the contract broken.

Loss Apportionment

The process of dividing the responsibility for financial losses among different parties, typically in accordance with their fault or liability.

Frustration Availability

Refers to situations where the doctrine of frustration can be applied to release parties from their contractual obligations.

Costly Performance

Refers to situations where fulfilling the terms of a contract or agreement involves significant expense.