ABC was informed that a.major client may sue it due to a faulty product model. The next stepfor ABC would most likely be: A. Control the risk by dissuading the client B. Review its production controls C. Assess the impact and likelihood of the law suit D. Identify the risk of being sued
ABC was informed that a.major client may sue it due to a faulty product model. The next stepfor ABC would most likely be: A. Control the risk by dissuading the client B. Review its production controls C. Assess the impact and likelihood of the law suit D. Identify the risk of being sued
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
ABC was informed that a.major client
may sue it due to a faulty product
model. The next stepfor ABC would
most likely be:
A. Control the risk by dissuading the client
B. Review its production controls
C. Assess the impact and likelihood of the law suit
D. Identify the risk of being sued
Expert Solution
Step 1
The contract between two parties must be formed in a manner that would make it capable to get legally enforceable. This gives the right to offeror party to ensure that offeree must perform the offered work in legal form. The value contract is said to those where parties have agreed to terms and conditions with free concent. Thus, any contract that lacks free concent could be terminated either by law or by parties themselves.
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