Companies Decide to Export to Increase Their Sales and Profits

question 43

True/False

Companies decide to export to increase their sales and profits or to protect them from being eroded.

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Definitions:

Contract

A legally binding agreement between two or more parties that outlines the terms and conditions for the exchange of goods, services, or other forms of consideration.

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing and duly signed by all parties involved, to be enforceable.

Promissory Estoppel

A legal principle that prevents a party from going back on a promise, even if it was not formally agreed to in a contract, if someone else has relied on that promise to their detriment.

Tort of Deceit

A legal cause of action that arises when one party intentionally lies or misrepresents a material fact with the intent to deceive another, causing harm.