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Table 22-25
Sophie, Huan, and Santiago are lost with no map or GPS available. They come to an intersection at which they can turn left, turn right, or continue going straight. Their preferences are summarized in the table.
-Refer to Table 22-25. The travelers decide to conduct pairwise voting with the majority determining the outcome of each vote to decide their next move. If they first choose between going left and going right, and then choose between the winner of the first vote and going straight, which direction will they go?
Privity of Contract
A principle stating that only the parties involved in the contract have the rights and obligations under that contract.
Novation
The act of replacing an existing obligation with a new one, thereby extinguishing the original contract and creating a new agreement.
Statutory Assignment
refers to the legal transfer of rights from one party to another, based on statutory laws rather than contractual agreement.
Equitable Assignment
The transfer of future rights to benefits in a contract to another party, recognized by equity courts.
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