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According to Your Textbook Authors, There Are Actions That Administrators

question 15

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According to your textbook authors, there are actions that administrators can take to increase the chances of success of intermediate sanctions in their jurisdictions.These include:


Definitions:

Revoke Acceptance

In contract law, the right of a buyer to reject goods after initial acceptance if they substantially fail to conform to the contract or because of a latent defect.

Nonconformity

The failure of a product or service to meet specified standards or expectations, typically resulting in a breach of warranty.

Cure the Defect

The process of correcting or fixing a flaw or error in a legal document or procedure.

Confirmed Letter of Credit

A letter of credit that has an additional guarantee by a second bank, ensuring payment under the letter of credit if the issuing bank fails to do so.

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