________ Occurs When All the Material Elements of a Contract

question 60

Multiple Choice

________ occurs when all the material elements of a contract are satisfied,even if some nonmaterial requirements may not be satisfied?

• A)Perfect tender
• B)Substantial performance
• C)Adequate tender
• D)Perfect performance
• E)Substantial tender

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Definitions:

OEM

Original Equipment Manufacturer, referring to companies that produce parts or equipment that may be marketed by another manufacturer.

GNI

Gross National Income, which is the total domestic and foreign output claimed by residents of a country, including salaries, product earnings, and property income.

4Ps

An alternative phrasing for the Four Ps, emphasizing the marketing mix elements used to position and sell products and services effectively.

CRM

Customer Relationship Management, an approach to manage a company's interaction with current and potential customers, often using data analysis to improve relationships.