When Only a Price Is Needed from a Vendor,the Following

question 22

Multiple Choice

When only a price is needed from a vendor,the following will likely be requested from the possible vendors:

• A)Request for Proposal (RFP)
• B)Request for Information (RFI)
• C)Request for Quote (RFQ)
• D)Request for Efficient Information Distribution (REID)
• E)More Optimal Desires (MOD)

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Definitions:

Slander of Title

A false statement that disparages or questions someone's legal ownership of property, causing financial loss.

Material Fact

Any fact that could influence a party's decision to enter into a contract or transaction; important information that should not be misrepresented or withheld.

Legal Duty

An obligation recognized by law, requiring an individual or entity to conform to a certain standard of conduct for the protection of others.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, often leading to harm or damage.