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Suppose that residents of a town are asked to vote on the best way to improve the safety of an intersection. The three choices are: a stoplight, a 4-way stop, and a 2-way stop. When the mayor asks the residents to choose between a stoplight and a 4-way stop, the residents choose a 4-way stop. Then, when the mayor asks them to choose between a 4-way stop and a 2-way stop, they choose a 2-way stop. However, if the mayor firsts asks the residents to choose between a 4-way stop and a 2-way stop, they choose a 2-way stop. Then, when the mayor asks the residents to choose between a 2-way stop and a stoplight, they choose a stoplight. What does this example illustrate?
Stop-payment Order
A request made to a bank by an account holder not to pay out on a check or payment that has been issued but not yet processed.
Reimburse
To pay back or compensate someone for expenses they have incurred.
Recourse
A legal means to seek enforcement of or redress for an obligation, right, or injury.
Stop-payment Order
An instruction to a bank not to process or honor a check or payment previously issued by the account holder.
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