All of the Following Are Disadvantages of Outsourcing a Product

question 161

Multiple Choice

All of the following are disadvantages of outsourcing a product except ________.

• A)outsourcing allows the company to focus on its primary function.
• B)the risk associated with having a third-party manufacturer produce substandard products.
• C)the loss of control over the manufacturing process.
• D)concerns about being unable to meet commitments to customers if a subcontractor experiences delays.

Identify types of contracts that require writing under the statute of frauds.

Recognize the role of secondary obligations and guarantees in the enforcement of contracts.

Explain the principles of promissory estoppel and how it affects contract enforceability.

Understand exceptions to the statute of frauds, including partial performance and admission.

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Definitions:

Sold

Refers to the act of exchanging a product or service for money or other compensation; a completed transaction.

Discount

A reduction from the usual cost of something, usually provided as an incentive to increase sales.

Outstanding Balance

Outstanding Balance refers to the amount of money owed on a loan or credit that has not yet been repaid.

Invoice

A detailed bill provided by a seller to a buyer listing goods or services provided, alongside quantities and prices.