A New,complex,and Not Recognized Situation Calls For

question 75

Multiple Choice

A new,complex,and not recognized situation calls for:

• A)performance-avoid orientation
• B)programmed decisions
• C)performance-prove orientation
• D)nonprogrammed decisions
• E)irrational decisions

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Definitions:

Rescission

The act of canceling a contract, returning both parties to their pre-contractual situation.

Mutually Agree

A situation in which two or more parties come to a common understanding or consent on a matter.

Executed

indicates that an operation or task has been successfully carried out or implemented to its full extent.

Preexisting Duty Rule

A principle in contract law stating that performing or promising to perform a duty already owed under contract does not constitute valid consideration for a new promise.