Two Companies That Both Sell Fine Time Pieces Combine

question 18

Multiple Choice

Two companies that both sell fine time pieces combine.What are they doing?

• A)diversifying,because they both sell the same products
• B)integrating vertically,because they both sell the same products
• C)backward vertical integration,because they are sharing distribution
• D)integrating horizontally,because they both sell similar products

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Definitions:

Bankruptcy

A legal process for individuals or entities that are unable to repay their debts, allowing for a reorganization or elimination of debt under the protection of the law.

Enforceable

Capable of being imposed or carried out by legal action or authority; describes a rule, contract, or law that can be legally upheld.

Bargained For

In contract law, referring to an exchange that parties agree upon, which forms the basis for a legally enforceable contract.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to a second party if the latter has reasonably relied on that promise to their detriment.