In Negotiations,the Walk-Away Point That Represents the Lowest Offer a Party

question 20

Multiple Choice

In negotiations,the walk-away point that represents the lowest offer a party would be willing to accept is known as the ________.

• A)reservation value
• B)best alternative
• C)peak price point
• D)price objection
• E)zone of possible agreement

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Definitions:

Three Parties

A term generally used in contracts or legal situations where three distinct entities are involved.

Lease

A contractual agreement whereby one party grants another the right to use property, equipment, or facilities for a specified period in exchange for payment.

Title

A legal term referring to a rightful ownership of property, assets, or the evidence thereof.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that establishes a uniform international sales law.