Asked by Cardian Williams on Jun 17, 2024
Verified
An output contract is an agreement of a buyer to purchase a seller's entire output for a stated period.
Output Contract
A legal agreement in which a buyer agrees to purchase all of a producer's production.
Entire Output
The entire output contract is a commercial agreement in which a buyer agrees to purchase all of a seller's production of a specific good or service.
- Analyze the specific aspects of offer, acceptance, and agreement across different contexts of contracts.
Verified Answer
FS
Fernando SantosJun 18, 2024
Final Answer :
True
Explanation :
An output contract indeed involves an agreement where the buyer agrees to purchase all of the seller's production of a particular good or service for a specified period.
Learning Objectives
- Analyze the specific aspects of offer, acceptance, and agreement across different contexts of contracts.
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