Acquired Authority or Power Is Gained from One's Peers, Based

question 35

True/False

Acquired authority or power is gained from one's peers, based on the perceived knowledge of the individual, his or her interpersonal skills, or work experience on similar projects.

---

Definitions:

Material Effect

A significant impact or change on a company's operations, financial condition, or future prospects.

Unilateral Mistake

A situation in a contract where one party is mistaken about a critical fact of the agreement, which could potentially lead to the contract being voidable by the mistaken party.

Bilateral

Involving two parties, sides, or aspects, often referring to agreements or relationships between two entities.

Mutual Mistake

A situation in contract law where all parties involved have a mistaken belief about a vital fact upon which the contract is based.