Allowances,like Discounts,refer to

question 266

Multiple Choice

Allowances,like discounts,refer to

• A)rewards given to retailers to encourage early payment.
• B)payment extensions given to cash-strapped consumers during the current recession.
• C)list price deductions based on surges in consumer demand.
• D)list price deductions based on sudden drops in consumer demand.
• E)reductions from list or quoted prices to buyers for performing some activity.

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Definitions:

Early Neutral Case Evaluation

A dispute resolution process where a neutral party assesses the strengths and weaknesses of a case early in litigation to facilitate settlement.

Neutral Third Party

A neutral third party is an independent entity with no stake in the outcome, often involved in mediation or arbitration processes to provide unbiased judgment or facilitate settlements.

Arbitration Clause

A provision in a contract that requires disputes to be resolved through arbitration rather than in court.

Unconscionable

Not right or reasonable; especially in a legal context to describe terms that are so unfair to one party that no reasonable or informed person would agree to them.