Why Can a Small Business Owner Make Decisions Quicker Than

question 10

Multiple Choice

Why can a small business owner make decisions quicker than a big business?

• A)Because the decision maker is both the owner and the manager of the business
• B)Because the owner can delegate the decisions to committees
• C)Because managers in big businesses have less knowledge than a small business owner
• D)All of these

Identify factors considered by courts in determining the legality and enforceability of agreements based on public policy.

Understand the concept of unconscionability and its types (procedural and substantive) in contract law.

Recognize the legal implications of exculpatory clauses in contracts.

Understand the concept of adhesion contracts and their potential for unconscionability.

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Definitions:

Spotlight Effect

The belief that others are paying more attention to one's appearance and behavior than they actually are.

Evaluate

To examine or judge carefully, analyzing the value or condition of something in a detailed manner.

Personal Appearance

The way one dresses, grooms, and presents themselves physically to the outside world.

Self-Perception

An individual's awareness of and attitude towards their own character, feelings, motives, and desires.