Auction-Type Pricing Is Becoming Very Popular Due to the Internet

question 98

Multiple Choice

Auction-type pricing is becoming very popular due to the Internet.The three types of auction pricing include sealed-bid auctions,descending bids auctions,and ________.

• A) EDLP auctions
• B) ascending bid auctions
• C) high-low bid auctions
• D) going-rate bidding auctions
• E) value pricing auctions

---

Definitions:

Fraudulent Misrepresentation

An intentional false statement of a material fact made by one party to induce another party to enter into a contract.

Duress

Any unlawful act or threat exercised on a person whereby the person is forced to enter into an agreement or to perform some other act against his or her will.

Negligent Misrepresentation

A false statement made carelessly that is relied upon by others, leading to their financial loss.

Annullment

A legal procedure that declares a marriage null and void, as if it never legally existed, due to various possible reasons such as fraud or incapacity.