A Negotiation Between a Seller and a Buyer Begins with Each

question 22

Multiple Choice

A negotiation between a seller and a buyer begins with each party stating their respective expectations. The seller starts with as high an asking price as is considered reasonable. Likewise, the buyer begins with the lowest reasonable price. This is an example of:

• A) positional bargaining.
• B) principled negotiation.
• C) interest-based negotiation.
• D) fact bargaining.
• E) surface bargaining.

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Definitions:

Executor

A person appointed by a testator to execute or carry out the instructions and wishes specified in their will.

Articles of Partnership

A document that outlines the terms and conditions under which a partnership operates, including responsibilities, profit distribution, and decision-making processes.

Compensation

Payment or benefit provided to someone in exchange for services rendered or as restitution for loss or injury.

Mortuary

A facility where the bodies of deceased persons are prepared for burial or cremation and where funerals might be conducted.