Ben and Andrew Are Parties to a Contract

question 60

Multiple Choice

Ben and Andrew are parties to a contract. They agree on a novation. The novation does NOT require

• A)the existence of a previous,valid obligation.
• B)agreement by all the parties to a new contract.
• C)performance of the original contract by all of the parties.
• D)a new,valid contract.

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Definitions:

Environmental Factors

External conditions and influences that affect the operation, performance, and strategy of organizations.

HRM Practices

The activities and strategies that human resource management professionals employ to manage and develop an organization's workforce.

Low-Cost Provider Strategy

A competitive strategy focusing on producing goods or services at the lowest cost compared to competitors to attract price-sensitive customers.

Differentiation Strategy

A business approach in which a company seeks to distinguish its products or services from competitors through unique features.