Lucas Offered to Purchase Baker's Snowmobile If He Could Arrange

question 32

True/False

Lucas offered to purchase Baker's snowmobile if he could arrange a loan with the bank for the funds. Lucas and Baker signed a written purchase agreement which did not mention the fact that Lucas did not have the necessary funds in his possession. If Baker claimed against Lucas for breach of the contract, Lucas could raise the agreement concerning the need for a bank loan as a collateral agreement, allowing him to avoid the contract.

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Definitions:

Leadership Focus

The concentration of leaders on specific areas or priorities crucial to achieving organizational objectives and guiding team success.

Theory Y

A management approach that assumes employees are inherently motivated and seek responsibility, contrasting with the controlling and directive approach of Theory X.

Human Nature

The fundamental characteristics, including ways of thinking, feeling, and acting, that humans tend to have naturally.

Leadership Approach

Refers to the style or method adopted by a leader in guiding, motivating, and managing a team or organization.