Traditional Contract Rules Only Apply to Written Contracts but Not

question 72

True/False

Traditional contract rules only apply to written contracts but not internet transactions.

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Definitions:

Regulatory Involvement

The extent to which government bodies or industry regulators participate in overseeing and controlling business activities or industry practices.

Start-Up Costs

Start-up costs are the initial expenses incurred during the process of establishing a new business or project, including but not limited to equipment, legal fees, marketing, and rent.

Follower Strategy

A business approach where a company decides to follow the innovations, products, or services introduced by competitors rather than lead the market.

Value Chains

The full range of activities that businesses undergo to bring a product or service from conception, through production, delivery to the consumer, and final disposal, adding value at each step.