During Negotiation, It Is Critical for Both Parties to Establish

question 25

Multiple Choice

During negotiation, it is critical for both parties to establish BATNA which refers to the negotiator's

• A) primary disagreement.
• B) absolute bottom line.
• C) secondary disagreement.
• D) plan of attack.

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Definitions:

Valid Contract

A legally binding agreement between parties that meets all requisite legal elements, such as offer, acceptance, consideration, and mutual consent.

Counteroffer

A reply to an offer in which the original conditions are modified, effectively rejecting the initial offer and presenting a new one for consideration.

Offer Termination

the revocation, rejection, or expiration of a proposal before it is accepted, which effectively ends the offer and prevents it from becoming a binding contract.

Uniform Commercial Code

A standardized set of laws and regulations that govern commercial transactions in the United States.