An Example of a Societal Environmental Cost Is

question 9

Multiple Choice

An example of a societal environmental cost is:

• A) monitoring costs.
• B) provisions for potential oil-spill clean up.
• C) when a firm produces a product that is difficult to dispose of safely.
• D) buying equipment to prevent environmental damage.

Recognize the role of oral contracts and circumstances under which they are enforceable.

Identify the essential terms that must be included in a contract to make it enforceable.

Understand the concept of parol evidence and its limitations in adding to or varying the terms of a written contract.

Recognize the importance of performance as a factor in the enforceability of certain agreements.

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Definitions:

Rule Of Reason

A doctrine used in U.S. antitrust law stating that not all restraints of trade are illegal, only those that are unreasonable, considering the facts surrounding the case.

Vertical Price-Fixing

An illegal practice where parties at different levels of the same supply chain (like manufacturers and retailers) agree to control the prices at which a product must be sold.

Per Se

A Latin phrase meaning "by itself" or "in itself," used to indicate something that is inherently or intrinsically the case.

Tying Agreements

Contracts where the buyer is required to purchase one product in order to buy another product, often considered anti-competitive.