The Parties to a Contract Must Have a Clear Understanding

question 20

Multiple Choice

The parties to a contract must have a clear understanding of what they are undertaking; that is,the contract must show:

• A) mutual agreement.
• B) legality of purpose.
• C) consideration.
• D) competency of parties.

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Definitions:

Generic Branding

A marketing strategy that focuses on promoting the product category rather than a specific brand, often to emphasize value or cost-effectiveness.

Family Branding

A marketing strategy that involves selling several related products under one single brand name.

Mixed Branding

A strategy that companies use by marketing the same good or service under several different brand names.

Brand Extension

A marketing strategy where a company uses an existing brand name to launch a new or modified product in a new category.