A ________ Exists When a Buyer and Its Supplier Adopt

question 13

Multiple Choice

A ________ exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer.

• A) supplier development agreement
• B) reciprocal arrangement
• C) shareholder relationship
• D) supply partnership
• E) strategic alliance

---

Definitions:

Parol Evidence Rule

A legal principle that prevents parties from presenting extrinsic evidence that contradicts or adds to the written terms of a contract.

Exceptions

Specific conditions or circumstances that alter or nullify the general rule or application of a law.

Contractual Rights

The specific legal rights and obligations that are established by a contract between two or more parties.

Assigned

The process of transferring rights, duties, or properties to another party, often seen in contracts or legal agreements.