Fact Pattern 10-5

question 21

Multiple Choice

Fact Pattern 10-5
Odell and Poppy sign a contract for the sale of Odell's Pizza Parlor to Poppy.The parties intend their written contract to be a final statement of most,but not all,of the terms of their agreement-Odell must first buy the building from Quin,after which Odell and Poppy will negotiate a final price.
-Refer to Fact Pattern 10-5.Poppy later disputes some of the provisions of the deal with Odell.If the dispute results in litigation,a court will most likely admit evidence of

• A)ambiguous additional terms.
• B)consistent additional terms.
• C)contradictory additional terms.
• D)fraudulent additional terms.

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Definitions:

Loss

A situation in which a business's expenses exceed its revenues over a specific period, resulting in negative profit.

Price Discrimination

A pricing strategy where a company charges different prices for the same product or service in different markets or to different segments of consumers, based on willingness to pay.

Product Differentiation

The method of differentiating a product or service from those available in the market to enhance its appeal to a specific target audience.

Barriers To Entry

Economic, procedural, regulatory, or technological factors that obstruct or restrict the ability of new competitors to enter and operate in a market.