Define consideration


Consideration is the inducement for a promise or performance. It is the primary basis for the enforcement of promises in our legal system. Consideration, or that which is exchanged for a promise, is present only when the parties intend an exchange. The consideration exchanged for the promise may be an act, a forbearance to act, or a promise to do either of these. The two basic elements of consideration are legal sufficiency and a bargained-for exchange, both of which must be present to satisfy the requirement of consideration.

Business

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The ________ begins with sales representatives and dealers sending orders to the firms and is followed by the sales department preparing invoices, and finally generating shipping and billing documents

A) payroll system B) market research process C) human resources system D) expense cycle E) order-to-payment cycle

Business

According to Armstrong and Kotler, what are the five elements of integrated marketing communication? How do organizations employ these elements to achieve their marketing goals?

What will be an ideal response?

Business

Explain the difference between indirect exporting and direct exporting. What are the advantages and disadvantages of each approach?

What will be an ideal response?

Business

List at least three disadvantages of using credit

What will be an ideal response?

Business