A retailer, through its extensive selection and high service levels, is able to attract shoppers from long distances. This phenomenon is known as _____
a. cognitive dissonance
b. outshopping
c. store loyalty
d. extended decision making
b
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A company issued 65 shares of $100 par value common stock for $7500 cash. The total amount of paid-in capital is:
A. $1000. B. $100. C. $7500. D. $650. E. $6500.
Al owns all the shares in Star Manufacturing Inc Star became $800,000 in debt and declared bankruptcy
Al then went to his brother and got a loan for $150,000 and Al then incorporated a new corporation called Nova Manufacturing Inc Al owns all the shares in Nova. When the trustee in bankruptcy had a sale of all the assets of Star Manufacturing Inc, Al went to the sale on behalf of Nova and bought all the assets of Star for $100,000 (about 10% of their original value) as there were no other bidders on the equipment. Al is now carrying on his same business as before but under the name of Nova Manufacturing. The Star creditors who were owed $800,000 and only got a small percentage of what they were owed and are furious that Al is still in business. This is A) illegal as since Al owned all the shares in both corporations Nova is liable for Star's debt B) illegal as it is a fraud on the creditors C) legal as Star and Nova are separate legal entities and Nova is not liable for Star's debts D) legal but Star creditors can sue Al personally for the money they are still owed E) both A and B
The Code defines __________ as "honesty in fact in the conduct or transaction concerned."
a. good faith b. unconscionability c. merchantability d. entrusting
A breach of contract occurs only when a party fails to perform all of his or her duties under a contract.
Answer the following statement true (T) or false (F)