In the WebHouse Example Included in Chapter 6, WebHouse Failed

question 4

Multiple Choice

In the WebHouse example included in Chapter 6, WebHouse failed because:

• A) it did not complete a feasibility analysis
• B) it did not write a complete business plan
• C) it couldn't motivate its suppliers or customers to participate at a sufficient scale to support the overhead of the business
• D) it charged too much for its services
• E) it failed to focus on developing a core strategy

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Definitions:

Law of Contracts

The branch of law dealing with the creation and enforcement of agreements between parties, outlining the obligations that each party must fulfill.

Contractual Capacity

Contractual capacity refers to the legal ability of a party to enter into a contract, generally requiring them to be of sound mind and of legal age.

Binding Agreement

A contract or deal between two or more parties that is legally enforceable in a court of law.

Legal Ability

The capability or qualification to engage in a legal task or to perform legal duties, often requiring specific knowledge or licensing.