In a Unilateral Contract, a Promise Is Exchanged from One

question 3

True/False

In a unilateral contract, a promise is exchanged from one party to another for a promise to forbear to act.

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Definitions:

Supplier Development

A business strategy where buying firms work closely with their suppliers to improve the supplier's product or service quality, efficiency, and effectiveness.

Organizational Buyers

Entities that purchase goods and services for use in the production of other products or services, for resale, or for organizational operation.

Buyer's Needs

The requirements or desires that consumers have when looking to purchase products or services.

Tying Agreements

Contractual agreements where the sale of one product is conditional on the purchase of another, often unrelated, product.