Explain ERG Theory

question 5

Essay

Explain ERG theory.

Understand the role of price terms in contract formation and their enforceability.

Identify and define the key terms and roles, such as "merchant" under the UCC.

Distinguish between the types of transactions covered by the UCC, specifically the sale of goods.

Comprehend the significance of delivery terms (e.g., FOB, CIF) and their impact on the obligations of the seller and buyer.

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Definitions:

Stereotypes

Oversimplified and generalized beliefs or ideas about a group of people, often leading to misconceptions and biases.

Prejudices

Preconceived opinions or judgments about people or ideas that are not based on reason or actual experience.

Biased Language

Language that shows prejudice, preference, or partiality towards a particular viewpoint, group, or idea, often resulting in unfair representation.

Neutral Language

Language that is unbiased, does not express opinions, and aims to avoid offending or alienating any group of people.