Identify the Four Ps in the Following Description: Rosa Alvarez

question 55

Essay

Identify the Four Ps in the following description: Rosa Alvarez markets 23 different varieties of salsa in 8-ounce and 12-ounce bottles at supermarkets in the southwestern United States. The 8-ounce bottle sells for $5.95, and the larger size sells for $7.95. Periodically, she sets up a table in one of the marketplaces that carries her salsa brand and offers customers a sample. She recently received considerable publicity for being the "Hispanic Entrepreneur of the Year."

---

Definitions:

Condition Precedent

A condition precedent is a contractual condition that must be fulfilled before a party's promise or obligation becomes binding.

Obligations Commencement

The starting point or effective date when obligations or duties under a contract or agreement begin.

Contractual Term

A provision or condition outlined in a contract that defines the obligations, rights, and duties of the parties involved.

Novation

The creation of a new contract through the substitution of a third party for one of the original parties to a contract by the consent of all.