Any Modification of a Sales Contract Between Merchants Must Be

question 49

True/False

Any modification of a sales contract between merchants must be supported by some form of consideration.

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Definitions:

Psychological Contract

The unwritten expectations and assumptions between employees and employers regarding the nature of their work relationship.

Contributions

The act of giving or adding to something larger, such as ideas, work, or resources, to achieve a common goal.

Inducements

Incentives or rewards offered to motivate specific actions or behaviors from individuals or groups.

Self-serving Bias

A cognitive bias where individuals attribute positive outcomes to their own actions and negative outcomes to external factors.