A product possesses a ________ ________ when it enjoys a superior position over competing products because consumers believe it has more value than other products in its category.
What will be an ideal response?
competitive advantage
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What is involved in pollution prevention? Give at least one example
What will be an ideal response?
Which of the following represents a liability?
a. The obligation to pay for goods that a company expects to order from suppliers next year. b. The obligation to provide goods that customers have ordered and paid for during the current year. c. The obligation to pay interest on a five-year note payable that was issued the last day of the current year. d. The obligation to distribute shares of a company's own common stock next year as a result of a stock dividend declared near the end of the current year.
Leif files a petition in bankruptcy. Among his debts are unpaid taxes, fines owed to the government, student loans owed to Metro University, and support owed to his ex-wife Nadia. Most likely to be discharged are
a. back taxes accrued within the previous three years. b. fines outstanding less than eight years. c. student loans whose payment would impose undue hardship. d. spousal-support debts unpaid for more than eighteen months.
What is the difference between an unilateral mistake and a mutual mistake? Under what circumstances will a court refuse to rescind a contract based on the defense of a "mistake"?