Managers Need to Be Cautious About Biases That Can Encroach

question 14

Multiple Choice

Managers need to be cautious about biases that can encroach and therefore impact their decisions.Which one of the following biases results from believing certain outcomes because others believe the same?

• A)confirmation
• B)loss aversion
• C)bandwagon
• D)overconfidence
• E)unrealistic optimism

Understand the principles for interpreting contracts and the importance of parties' intent.

Distinguish between different states of contracts: express, implied, executed, and executory.

Identify circumstances under which contracts may be considered void, voidable, or unenforceable.

Recognize the legal principles that apply to ambiguous contract terms.

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Definitions:

Graduation Gift

An item or sum of money given to someone to celebrate the completion of their graduation.

Talon

In finance, a talon is a coupon on a bearer bond that allows the holder to collect future unattached coupons when they become due.

Judicial Sale

The sale of property authorized by a court, often as a result of foreclosure or to enforce a judgment.

Holder In Due Course

A term in commercial law referring to a party who acquires a negotiable instrument in good faith for value, with certain protections against prior claims.