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A Premium Is a Promotional Item That Is Given as an Incentive

question 14

True/False

A premium is a promotional item that is given as an incentive for performing a particular act, typically buying a product.


Definitions:

Binding Ruling

A final and enforceable decision given by a legal authority, which all involved parties must adhere to.

Contract

A legally enforceable pact made between two or more entities, binding them in agreement.

Punitive Damages

Compensation awarded in a lawsuit that exceeds simple restitution and is intended to punish the defendant for wrongdoing and deter future similar acts.

Arbitrator's Award

The decision or outcome given by an arbitrator, who is a neutral third party, at the conclusion of an arbitration proceeding.

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