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Output Contract: Definition & Example

Instructions:

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question 1 of 3

The body of law which applies to output contracts is known as:

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1. In an output contract, a seller agrees to sell everything he produces and the buyer agrees to do which of the following?

2. One benefit an output contract provides to a buyer is:

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About This Quiz & Worksheet

Output contracts affect both buyers and sellers, and this quiz will seek to address those involved as well as the concept of exclusivity.

Quiz & Worksheet Goals

Students will be tested on the following:

  • Body of law that applies to output contracts
  • Characteristics of an output contract
  • Benefits of output contracts

Skills Practiced

  • Interpreting information - verify you can read information regarding the characteristics of an output contract and interpret it correctly
  • Knowledge application - use your knowledge to answer a question about the concept of exclusivity relative to both buyers and sellers in an output contract
  • Reading comprehension - ensure that you draw the most important information from the related business lesson

Additional Learning

The lesson that can provide you with further facts is called Output Contract: Definition & Example. It identifies important points, including:

  • What an output contract is
  • What typically governs output contracts
  • How involved parties must act in good faith
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