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:

Cross Section

A diagram representing the geology as a two-dimensional slice through the land. See also geologic cross section.

Cleaved Rocks

Rocks that have been split or sliced along very smooth, flat surfaces, often due to intense pressure.

Unconformity

A boundary between underlying and overlying rock strata representing a significant break or gap in the geologic record; an unconformity represents an interval of nondeposition or erosion, commonly accompanied by uplift.

Intrusive Contact

The boundary between intrusive igneous rocks and the surrounding country rock into which they have intruded.