It Is Sometimes Irrational to Be Ignorant

question 88

True/False

It is sometimes irrational to be ignorant.

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Definitions:

Consideration

The value (such as money, a service, or a promise) that is exchanged between parties in a contract.

Doctrine of Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise that the promisee has relied upon, resulting in a significant change of position.

Disputed Debt

A disagreement between a creditor and a debtor over the existence, amount, or terms of repayment of a debt.

Mutual Assent

refers to the agreement between parties in a contract, shown by a valid offer and acceptance, which is required for a contract to be enforceable.