The Seal on a Formal Contract May Consist of Any

question 31

Multiple Choice

The seal on a formal contract may consist of any of the following, EXCEPT:

• A) the word "Seal.."
• B) the letters "L.S."
• C) an impression on the paper.
• D) a stamped signature.

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Definitions:

Price-Discriminate

Price discrimination refers to the strategy where a company sells the same product to different customers at different prices based on factors such as willingness to pay, market segment, or geographic location.

Elastic Demand

A situation where the quantity demanded of a good or service significantly changes in response to a change in its price, indicating a high price sensitivity.

Inelastic Demand

Refers to a situation where the demand for a product is relatively unresponsive to changes in price.

Inelastic Demand

A situation where the demand for a product does not significantly change with a change in price.