Under Which Circumstances Are People Most Likely to Take a Gamble

question 76

Multiple Choice

Under which circumstances are people most likely to take a gamble?

• A) in order to gain something of value
• B) in order to avoid losing something
• C) when the possible wins and losses are great
• D) under all circumstances equally

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Definitions:

Defect Of Title

A legal issue with the title to a property that may prevent a seller from providing clear ownership, affecting the ability to sell or transfer the property.

Personal Defences

Legal arguments used by individuals in court to justify their actions or to deny liability.

Holder In Due Course

A person who acquires a negotiable instrument before its due date that is complete and regular on its face, and who gave value for the instrument, without any knowledge of default or defect in the title of prior holders.

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the name of the payer and payee.