A Purchase Requisition Is a Formal Order Sent to a Supplier

question 89

True/False

A purchase requisition is a formal order sent to a supplier for the purchase of materials.

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Definitions:

Consideration

Something of value exchanged between parties in a contract, making the agreement binding and legally enforceable.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a set of rules governing the buying and selling of goods across international borders.

Irrevocable

Not able to be changed, reversed, or recovered; final and unalterable.

Revocation

The act of cancelling or withdrawing something, such as an offer, license, or privilege.