Examlex
What are the three levels of quality standards?
Capacity To Contract
The legal ability of a person to enter into a binding contract, typically requiring that the individual is of a certain age and sound mind.
Necessaries
Goods or services that are essential for someone’s maintenance and welfare according to their status in life and their requirements at the time of contract.
Credit
The granting of money or something of value with the expectation of repayment, or the reputation for solvency and reliability that allows an entity to borrow.
Revenue Opportunities
Potential scenarios or strategies that can lead to increased income or profits for a business or organization.
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