An Agent Who Enters into a Contract with a Principal

question 18

True/False

An agent who enters into a contract with a principal has two (2)distinct obligations: (1)to perform the lawful duties expressed in the contract; and (2)to meet the standards of reasonable care,skill,and diligence implicit in all contracts.

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Definitions:

Matching Law

A principle of behavioral psychology that states an individual will choose to engage in behaviors proportional to the rewards offered for those behaviors.

FR 10 Schedule

A fixed-ratio schedule of reinforcement where a response is rewarded only after it has been performed a specified number of times, in this case, ten times.

FR 40 Schedule

A type of fixed-ratio schedule in operant conditioning where a response is reinforced only after a specific number of responses have been made, in this case, every 40th response.

Operant Chamber

A laboratory apparatus used to study animal behavior in operant conditioning, allowing systematic presentation of stimuli and recording of responses; also known as a Skinner box.