A purchaser's agreement to buy from a particular seller all the materials of a particular kind he needs is a(n)____ contract.
A) illusory
B) requirements
C) output
D) exclusive dealing

Question

Quizplus · Accepted Answer

A requirements contract is an agreement where the buyer agrees to purchase all of the goods or services they need from a particular seller. The seller is obligated to supply the goods or services at the agreed-upon price when the buyer needs them. This is different from an output contract, where the seller agrees to sell all of their production to a particular buyer. An exclusive dealing contract involves a seller agreeing to only sell to a particular buyer or a buyer agreeing to only purchase from a particular seller. An illusory contract is a contract that appears to be a legally binding agreement, but in reality, one party has not actually committed to anything.

A Purchaser's Agreement to Buy from a Particular Seller All