Starbucks Coffee contracts with Juan Valdez coffee farms to purchase "all the coffee beans Starbucks needs for the next twelve months." The parties have a(n) ________ contract.

A) open price
B) requirements
C) output
D) firm offer

Question

Tanaijah Austin · Accepted Answer

Final Answer : B, Explanation :  A requirements contract is a type of contract in which the buyer agrees to purchase all of the goods or services it needs from the seller, and the seller agrees to provide those goods or services. In this case, Starbucks has agreed to purchase all the coffee beans it needs from Juan Valdez coffee farms, making it a requirements contract.

Starbucks Coffee contracts with Juan Valdez coffee farms to purchase "all the coffee beans Starbucks needs for the next twelve months." The parties have a(n) ________ contract.

A) open price
B) requirements
C) output
D) firm offer

Definitions

Learning Objectives

Learning Objectives

Related questions

Starbucks Coffee contracts with Juan Valdez coffee farms to purchase "all the coffee beans Starbucks needs for the next twelve months." The parties have a(n) ________ contract.A) open priceB) requirementsC) outputD) firm offer

Definitions

Learning Objectives

Learning Objectives

Related questions

Starbucks Coffee contracts with Juan Valdez coffee farms to purchase "all the coffee beans Starbucks needs for the next twelve months." The parties have a(n) ________ contract.

A) open price
B) requirements
C) output
D) firm offer