Both the Common Law and the UCC Provide That a Contract

question 46

True/False

Both the common law and the UCC provide that a contract is created when the offeror receives the acceptance,not when the offeree sends the acceptance.

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Definitions:

Framing

The way information is presented or communicated, which influences how it is perceived and interpreted.

Anchoring Effect

A cognitive bias where individuals rely too heavily on an initial piece of information (the "anchor") when making decisions.

Sunk Costs

Costs that have already been incurred and cannot be recovered, and should not affect future decision-making processes.

Discrimination Learning

A cognitive process where an organism learns to respond differently to various stimuli because they are associated with different outcomes.