Identify and Describe the Three Major Parts of the External

question 34

Essay

Identify and describe the three major parts of the external environment. What is the purpose of the firm's collecting information about these aspects of its environment?

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Definitions:

Requirements For Negotiability

The legal criteria that a document must meet to be considered negotiable, allowing it to be transferred or endorsed.

Contract Formed

The process of creating a legally binding agreement, requiring offer, acceptance, consideration, and mutual consent among parties.

Negotiable

Capable of being transferred or exchanged for value between parties, often referring to financial instruments like checks or bills of exchange.

Negotiable Instrument

A written, signed document that promises payment of a specified sum of money to the bearer or a named party.