Contracts in Which One Party to the Agreement Agrees to Buy

question 72

Multiple Choice

Contracts in which one party to the agreement agrees to buy all of the other party's production of a particular commodity is called a(n) :

• A)requirements contract.
• B)composition agreement.
• C)output contract.
• D)nominal consideration.

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Definitions:

Taboo

Behavior that brings the most serious sanctions.

Sanctions

Measures taken by a state or an agency to coerce another to conform to an international agreement or norms, often in the form of restrictions or penalties.

Element of Culture

An element of culture includes any constituent of culture, such as beliefs, values, norms, symbols, language, and rituals, that contributes to the identity and continuity of a particular society.

Sapir-Whorf Hypothesis

A theory suggesting that the structure of a language shapes its speakers' worldview and cognitive processes, influencing their perception of reality.