PHR Human Resources Exam Prep

Category - Strategy

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In what kind of transaction is a contract provided by an entity that is not otherwise involved in the agreement?

Request for proposal
Terminal contract
Third-party contract
Bought contract

Explanation

Answer - C - In a third-party contract, the contract is provided by an entity that is not otherwise involved in the agreement.

Key Takeaway: Remember that “third-party” always refers to a situation in which someone is involved in a business transaction, deal, or mediation and they are not otherwise directly involved with the situation.

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