What Mistake Can Companies Make When They Define Their Core

question 49

Multiple Choice

What mistake can companies make when they define their core business?

• A) being myopic
• B) seeing the big picture
• C) being too strategic
• D) being too technical

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Definitions:

Procedural Unconscionability

A legal principle referring to circumstances where the process involved in making a contract is deemed unfair or unjust, often due to a significant imbalance in power or information between the parties.

Substantive Unconscionability

A legal doctrine that allows courts to refuse to enforce a contract or part of it, if the contract is excessively unfair or oppressive.

Adhesion Conscionability

A legal concept referring to the fairness of contract terms in a standard-form agreement, where one party has significantly more power to dictate the terms.

Exculpatory Clause

A statement in a contract that frees one party (usually the drafter of the agreement) from all liability arising out of performance of the contract, generally based on factors such as consumer ignorance or a great deal of unexplained fine print that serve to deprive the less powerful party of a meaningful choice.