Asked by Sherry Smith on May 06, 2024
Verified
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
Requirements Contract
An agreement in which one party agrees to purchase all of its needs for a specific product or service from the other party.
Starbucks Coffee
An international coffee company and coffeehouse chain based in Seattle, Washington.
Juan Valdez
A fictional character who has become a symbol of the National Federation of Coffee Growers of Colombia, representing Colombian coffee.
- Define and identify requirements and output contracts.
Verified Answer
Learning Objectives
- Define and identify requirements and output contracts.
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