What Is the Purpose of Contract Law

question 7

Multiple Choice

What is the purpose of contract law?

• A) to ensure litigation of parties committing contractual breach
• B) to prescribe principles and values for use in society
• C) to determine right and wrong in the business world
• D) to enforce expectations and facilitate planning

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Definitions:

Consumer Behavior

The study of how individual customers, groups, or organizations select, buy, use, and dispose goods, services, ideas, or experiences to satisfy their needs and desires.

Self-concept

An individual's perception of self, including knowledge about the self, such as beliefs regarding personality traits, physical characteristics, abilities, values, goals, and roles.

Secondary Data

Information that was collected for a purpose other than the current research interest, often used in analysis or study.

Market Segmentation

The process of dividing a broad consumer or business market into sub-groups of consumers based on some type of shared characteristics.