Retailing Is an Intermediate Stage in the Channel of Distribution

question 78

True/False

Retailing is an intermediate stage in the channel of distribution.

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Definitions:

Antilapse Clause

A provision in a will or estate plan designed to determine what happens to a beneficiary's gift if the beneficiary predeceases the testator.

Life Insurance Policy

A contract between an individual and an insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the death of the policyholder.

Premium

In insurance law, the price paid by the insured for insurance protection for a specified period of time.

Fire Insurance Policy

A contract that provides compensation for damage or loss caused by fire to properties, subject to terms and conditions of the policy.