Briefly Describe the Four Strategies Used to Manage Conflicts

question 52

Essay

Briefly describe the four strategies used to manage conflicts.

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Definitions:

Negotiable

A term referring to a document or instrument that is transferable from one person to another in a form that is legally effective for the transfer.

Promissory Note

A written, legally binding agreement in which one party promises to pay another a specific sum of money by a set date.

Revised Article 3

An updated version of Article 3 of the Uniform Commercial Code (UCC) that governs negotiable instruments, including checks and promissory notes.

UCC

Uniform Commercial Code, a set of laws that provide legal rules and regulations governing commercial or business dealings and transactions in the United States.