A __________ Advantage Features a Product or Service on Which

question 27

Multiple Choice

A __________ advantage features a product or service on which customers place a greater value than they do on similar offerings from competitors.

• A) competitive
• B) competitor
• C) power
• D) first-mover

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Definitions:

Past Consideration

Anything given or promised to be given in the past, which cannot be considered valuable in the context of forming a current contract.

Law of Consideration

A principle in contract law that requires an exchange of something of value between the contracting parties.

Specific

Clearly defined or identified; particular and distinct.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise.