What are nonnegotiable contracts?
What will be an ideal response?
If a promise or an order to pay does not meet one of the previously discussed requirements of negotiability, it is a nonnegotiable contract and is therefore not subject to the provisions of Uniform Commercial Code (UCC) Article 3. A promise or an order that conspicuously states that it is not negotiable or is not subject to Article 3 is not a negotiable instrument and is therefore a nonnegotiable contract. A nonnegotiable contract is not rendered either nontransferable or unenforceable. A nonnegotiable contract can be enforced under normal contract law. If the maker or drawer of a nonnegotiable contract fails to pay it, the holder of the contract can sue the nonperforming party for breach of contract.
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Which of the following statements about the sales force in the 21st century is true?
A. Sales managers will use a hands-off approach and let the professional salesperson be his or her own boss B. Transactional exchanges no longer occur C. Sales management must be smart and nimble and provide technology-centered solutions to support the sales effort D. Salespeople make little use of the Internet because they realize the importance of the personal touch E. All of the above statements about the sales force in the 21st century are true
Under an option agreement the optionee:
A. Is obligated to purchase the property at the fixed price. B. Must pay the optionor valuable consideration. C. Will take possession of the property. D. Must include a down payment.