A local Credit Union agrees to purchase office supplies at a set price over the next several years from one particular supplier.What term describes this quasi-contractual agreement between the Credit Union and the supplier?

Question

Quizplus · Accepted Answer

A blanket purchase order is a type of quasi-contractual agreement between a buyer and a supplier where the buyer agrees to purchase a set quantity of goods or services from the supplier at a predetermined price over a certain period of time.

A Local Credit Union Agrees to Purchase Office Supplies at a Set