The Administrative Procedure Act (APA) (P

question 38

Multiple Choice

The Administrative Procedure Act (APA) (P.L.79-404) is the United States federal law that governs the way in which administrative agencies of the federal government of the United States may propose and establish _____.

• A)policies and procedures
• B)regulations
• C)rules
• D)statutes

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Definitions:

Requirements Contract

A contract in which the seller agrees to supply all of the buyer's needs for a particular good or service over a specified period.

Output Contract

An agreement in which a seller agrees to sell all of its production to a single buyer, typically used to ensure a steady market for the seller's product.

Promissory Estoppel

An equitable doctrine that prevents a party from going back on a promise even if a legal contract does not exist, provided that the promisee has relied on that promise to their detriment.

UCC

Stands for Uniform Commercial Code, which is a comprehensive set of laws governing all commercial transactions in the United States.