Long-Term Contracts for Both Warehousing and Transportation Requirements Will Be

question 81

Multiple Choice

Long-term contracts for both warehousing and transportation requirements will be more effective if

• A) the demand and price of warehousing do not change in the future.
• B) the price of warehousing goes up in the future.
• C) demand drops in the future.
• D) the price of warehousing drops in the future.
• E) A and B only

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Definitions:

Duress

A scenario in which an individual engages in an action due to being subjected to force, intimidation, or other forms of coercion.

Coercion

The act of compelling a party to act in an involuntary manner by use of threats, force, or pressure.

Contract Force

The legal binding power of a contract that obliges the parties involved to fulfill their respective duties as outlined.

Ratification

The act of formally approving or confirming a decision or agreement, making it officially valid.