Consideration Can Be a Promise or an Act

question 17

True/False

Consideration can be a promise or an act.

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Definitions:

Evaluation Criteria

The standards or benchmarks used to assess the quality, performance, or suitability of a product, service, or supplier.

Unilateral Price Increase

A decision made by one party, usually the seller, to raise prices without the agreement or negotiation with the buyer.

Crunch

A critical situation or period characterized by a shortage or pressured demand for certain resources, often leading to difficult decision-making.

Buyer-supplier Satisfaction Matrix

A conceptual framework that assesses the satisfaction levels of both buyers and suppliers in a business relationship, used to optimize partnership strategies.