What Type of Clause Is a Provision in a Sales

question 13

Multiple Choice

What type of clause is a provision in a sales contract that promises a buyer that it will pay the lowest price the seller charges?

• A)Low price clause
• B)Price matching clause
• C)Best price clause
• D)Most favored customer clause
• E)Competitive price clause

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Definitions:

Raffles V. Wichelhaus

A landmark case in contract law dealing with mutual mistake and the importance of clear terms in agreements, specifically relating to the "Peerless" ship.

Contractual Terms

The conditions and stipulations outlined in a contract that determine the rights and duties of the parties involved.

Fraud in the Inducement

involves deceiving someone to enter into a contract, where the deception impacts their decision to agree to the contract.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract, concerning their rights and obligations.