When a seller has agreed to supply all of the needs of a buyer,there is a(an):

Question

Quizplus · Accepted Answer

A requirements contract is a contract where a seller agrees to supply all of the needs of the buyer for a specific good or service within a certain period of time. This type of contract is common in industries where buyers have ongoing needs for a particular product, such as raw materials or supplies. The quantity of goods to be supplied is not predetermined, but rather depends on the needs of the buyer. This type of contract is allowed under the Uniform Commercial Code (UCC). Therefore, the correct answer is A) requirements contract.

When a Seller Has Agreed to Supply All of the Needs