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A Value Is a Socially Shared Idea About What Is

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True/False

A value is a socially shared idea about what is good, desirable, or important.


Definitions:

Unilateral Contract

An agreement in which a promise by one party is exchanged for an act performed by the other party.

Executed

A term applied to a contract in which all of the terms have been fully performed.

Implied-In-Law

A legal obligation arising not from explicit agreement but from a duty inherent in social or legal traditions.

Without Reserve

An auction term indicating that an item will be sold to the highest bidder regardless of the price, without any minimum bid restriction.

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