An ________ Primarily Serves Businesses That Primarily Buy Direct Goods

question 24

Multiple Choice

An ________ primarily serves businesses that primarily buy direct goods on a spot purchasing basis.

• A) e-distributor
• B) e-procurement company
• C) exchange
• D) industry consortium

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Definitions:

Standardized Form Contracts

Pre-prepared legal agreements that are not tailored to individual negotiations but used universally across many transactions.

Negotiable

Capable of being transferred from one party to another as a form of payment or as fulfilment of a contract.

Voidable Contract

A legal agreement that may be considered invalid upon the request of one of the parties due to certain defects, such as misrepresentation or lack of capacity at the time of execution.

Statute Of Limitations

A statute that requires that certain classes of lawsuits must be brought within defined limits of time after the right to begin them accrued or the right to bring the lawsuit is lost.