If a Delegatee Has Not Assumed the Duties Under a Contract

question 81

True/False

If a delegatee has not assumed the duties under a contract, the delegatee is not liable to the obligee for nonperformance.

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Definitions:

Keynesian Economics

An economic theory stating that government intervention can stabilize the economy through fiscal and monetary policy.

Wage Flexibility

The ease with which wages can adjust to match the supply and demand for labor, helping in the correction of labor market imbalances.

Full Employment

A situation in which all available labor resources are being used in the most economically efficient way, typically marked by the absence of cyclical unemployment.

John Maynard Keynes

A British economist whose theories on the causes of prolonged unemployment and the role of government intervention in economies formed the basis of Keynesian economics.