Illustrate the differences between a straight rebuy, a modified rebuy, and a new-task purchase
What will be an ideal response?
In a straight rebuy, the purchasing department reorders on a routine basis and chooses from suppliers on an approved list. In a modified rebuy, the buyer wants to modify product specifications, prices, delivery requirements, or other terms. Lastly, in the new-task purchase, a purchaser buys a product or service for the first time.
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Which of the following is not a necessary element for a valid contract?
A. A legal objective B. A meeting of the minds C. Payment of money D. Capacity of the parties
If a credit card has a provision allowing you to make purchases beyond the stated credit limit for a fee, it is referred to as
A) a purchase protection plan. B) over limit protection. C) a grace period. D) a first forgiveness provision.