University of Delaware

Describes who has contractual capacity and who doesn't have contractual capacity. Along with describing what contractual capacity signifies.

Explains the difference between agreements and contracts according to business law.

Notes for Business Law class. Notes provide explanation of contracts and contractual capacity, along with their importance.

absolute advantage correct answer: when a country has a monopoly on producing a product or is able to produce it at a cost below that of all other countries advertising correct answer: paid, non personal communication through various media by organizations and individuals who are in some way identified in the advertising message affirmative action correct answer: employment activities designed to "right past wrongs" endured by women and minorities annual report correct answer: a y...

What are 3 fundamental financial statements? correct answer: 1. the income statement 2. the balance sheet 3. the statement of cash flows What does an income statement reflect? correct answer: tells you how much money a company has brought in, how much it has spent, and the difference between the two → its profit Total net revenue, net income, or earnings per share Revenue correct answer: all the money a company brought in during a specific time period Expenses correct answer: ...

business correct answer: an organization or enterprising entity engaged in commercial, industrial, or professional do business' have to be for profit and of a certain size correct answer: businesses can be for profit entities or they can be nonprofit organizations that operate to fulfill a charitable mission or further a social cause. businesses range in a scale from sole proprietorships two international corporations and can range in size from small to large business plan correct answe...

what is a nudge correct answer: changes in how choices are presented or set up to influence people to take a specific action what are the three guiding principles for how to "nudge for good" correct answer: nudges should be - transparent -never misleading - easily opted out of what are the three principles from the Belmont report for how humans (as research subjects) are selected, consented and treated correct answer: 1. respect for people (people should be treated as autonomous a...

Which of the following marketing strategies can be best employed for attracting tourists? correct answer: Place Marketing _____ is based on a costumer's perception that a product has a better relationship between the cost and the benefits than its competitors. correct answer: Value Peter is starting a new business. He has to develop a marketing strategy by identifying similar characteristics, attributes, and behaviors. The term used to describe Peter's strategy is: correct answer: mar...

generic goods correct answer: non-branded products that usually sell at a sizable discount compared to national or private-label brands. brand association correct answer: the linking of a brand to other favorable images, like famous product uses, a popular celebrity, or a particular geographic area. brand manager correct answer: a manager who has direct responsibility for one brand or one product line; product manager product screening correct answer: a process designed to reduce th...

Informative tables and graphics from all classes before the exam one that elaborate on the keywords listed above.