An Example of an Industry Where There Is Inadequate Capacity

question 38

Multiple Choice

An example of an industry where there is inadequate capacity is ______.

• A)the furniture industry
• B)the retail industry
• C)the pharmaceutical industry
• D)the oil-refining industry

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Definitions:

Binding Contract

An agreement between parties that is legally enforceable by law, containing all essential elements of a contract.

Unilateral Contract

A contract in which only one party makes a promise or undertakes a performance, while the other party accepts by performing the specified act.

Oral Acceptance

The verbal agreement to the terms of a contract, which in some cases can be legally binding, depending on the nature of the contract and jurisdiction.

Battle Of The Forms

A situation in contract law where two parties form an agreement based on differing standard terms and conditions, typically through the exchange of forms like purchase orders and invoices.