Although Price Is an Important Consideration,an Outsource Vendor May Be

question 70

True/False

Although price is an important consideration,an outsource vendor may be chosen based upon their ability to provide a product or service better or faster.

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Definitions:

Highlights

Key points or significant details that stand out within a larger context.

Preexisting Duty

An obligation that a party is already legally bound to perform, which cannot serve as consideration for a new contract.

Bilateral Contract

A type of agreement involving two parties where each side promises to fulfill certain obligations to the other; a mutual exchange of promises.

Unilateral Contract

A type of contract in which only one party makes a promise or commitment in exchange for an act performed by the other party.