When a Contract Proves to Be a Bad Bargain

question 20

Multiple Choice

When a contract proves to be a bad bargain:

• A) the injured party is never bound by the terms of the contract.
• B) courts will always imply terms that are necessary to avoid hardship.
• C) parties are generally still bound by the terms of the contract.
• D) the contract must be rewritten.

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Definitions:

World Class Firm

A company that achieves high levels of efficiency, competitiveness, and profitability, recognized globally for excellence in its operations and services.

Performance Measures

Metrics or standards used to evaluate the efficiency, effectiveness, and quality of operations or activities within an organization.

Large Lead Time

An extended period that passes from the initiation of a process to its completion, often seen in manufacturing and supply chain management.

Shipping Mode

The method or means by which goods are transported from one location to another, including options such as air, sea, road, or rail.