Use the Fact Situation in Q10 to Answer the Related

question 31

Multiple Choice

Use the fact situation in Q10 to answer the related question that follows. The principle of law that arises out of the fact situation above was meant to overcome an earlier principle of law that stated that

• A)payment of a lesser sum terminates the contract.
• B)a contract does not need consideration at all.
• C)a contract is terminated by performance.
• D)payment of a lesser sum in satisfaction of a greater sum is no payment at all.
• E)none of the above

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Definitions:

Consultative

A leadership or decision-making style that involves seeking input or feedback from others before making a final decision.

Representativeness heuristic

A cognitive shortcut used when making judgments about the probability of an event under uncertainty, based on how similar it is to a typical case.

Team leader

A person appointed or recognized within a group who guides, inspires, and coordinates the efforts towards achieving team objectives.

Accessibility heuristic

A cognitive shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.