When One Person Agrees to Pay the Debt of Another

question 21

Multiple Choice

When one person agrees to pay the debt of another as a favor to that debtor,it is called

• A)promissory representation.
• B)a mutual promise.
• C)promissory estoppel.
• D)a collateral promise.

Distinguish between compensatory and non-compensatory decision rules.

Recognize the consequences of setting unrealistic consumer expectations.

Identify the types of social influence on consumer decisions.

Develop strategies to manage customer expectations and enhance satisfaction postpurchase.

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Definitions:

Waste Disposal Company

A business specialized in the collection, transport, processing, or disposal of waste materials.

Internal Revenue Service

The U.S. government agency responsible for tax collection and tax law enforcement.

Enabling Legislation

A statute enacted by Congress that authorizes the creation of an administrative agency and specifies the name, composition, purpose, and powers of the agency.

Administrative Agencies

Governmental bodies having jurisdiction to implement and enforce specific legislation.