Standard Form Agreements

question 36

Multiple Choice

Standard form agreements

• A)always balance the interests of both parties.
• B)are rarely offered on a take-it-or-leave-it basis.
• C)often are more time-consuming than negotiating the terms of a new contract.
• D)often contain language that has been refined and tested over the years.
• E)are not binding if the party signing them does not bother to read them.

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Definitions:

Soft Coal

A term often used for bituminous coal, characterized by its relatively high volatile content and used primarily for electricity generation and industrial heat.

Tax Impact

The effect that changes in taxation have on the economy, individuals, or businesses, including adjustments in spending, investment, and distribution of income.

Demand Elasticity

Measuring the impact of price swings on the volume of a good that consumers seek to purchase.

Inelastic Demand

A market condition where the demand for a product does not change significantly when its price changes.