Why are the terms "cellophane," "aspirin," and "thermos" generic? What changes a tradename or trademarked item to a generic term?
This is the down-side of having a popular product. When consumers use the brand name to refer to any brand of a type of product as opposed to a particular company product, the names may fall into common usage and the trademark owner may lose trademark protection. Companies must promote their trademark term correctly, as in "Band-Aid brand adhesive strip" so that "Band-Aid" does not become the term customers use for all adhesive strips.
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Pull manufacturing should lead to all of the following except:
a. short production runs b. increased work in process and finished goods inventories c. continuous flow operations d. a cellular arrangement of factory machinery
Imposition of the best-efforts duty provides sufficient consideration to make a contract enforceable
Indicate whether the statement is true or false
The disadvantages associated with a proprietorship are similar to those of a partnership. A major difference between these two forms of business organization is that a partnership requires a legal agreement that commits the partners' personal assets, which means that partnerships have little difficulty raising large amounts of capital (similar to corporations).
Answer the following statement true (T) or false (F)
Fact Pattern 12-2ACut-Rate Construction Company (CCC) begins building a restaurant for Diners Restaurants, Inc., but after two months demands an extra $100,000. Diners agrees to pay.Refer to Fact Pattern 12-2A. If CCC offers no reason for the extra $100,000, but says only that it will otherwise stop construction, the agreement is
A. enforceable as an accord and satisfaction. B. enforceable because of unforeseen difficulties. C. unenforceable as an illusory promise. D. unenforceable due to the preexisting duty rule.