Define Each of the Following Mental Shortcuts and Explain Why

question 118

Essay

Define each of the following mental shortcuts and explain why each may be inaccurate: (1) the availability heuristic and (2) the representativeness heuristic.

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Definitions:

Private Law

Law that involves suits between private individuals or groups.

Trust Corpus

The principal amount of assets held in a trust, as distinguished from the income generated by those assets.

Trustee

(1) In a bankruptcy proceeding, an individual who takes over administration of a debtor’s estate. (2) A person who operates a business trust for beneficiaries.

Anatomical Gift

All or part of an individual’s body that the individual wishes to donate to a hospital, university, organ bank, etc.