When Managing Desirable Long-Term Contractual Business Relationships,each Party's Insistence on Strict

question 42

Multiple Choice

When managing desirable long-term contractual business relationships,each party's insistence on strict adherence to their respective legal rights may not be a suitable option for the business.Which of the following is an example of an alternative method of dealing with a breach of contract?

• A) Treat the subject matter of the contract as a standard or ordinary commodity.
• B) Maintain the project's profitability by insisting on full compensation for any loss.
• C) Seek sufficient compensation for any resulting loss, but extend time for payment.
• D) Show respect for the other party while seeking a standard of reasonableness in return.

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Definitions:

Behaviorism

An educational theory suggesting that conditioning is the root through which behaviors are learned.

Psychoanalytic Psychology

A branch of psychology that focuses on understanding human behavior through the exploration of the unconscious mind, as developed by Sigmund Freud.

American Philosopher

A scholar originating from the United States who engages in the study of fundamental questions about existence, knowledge, values, reason, mind, and language.

Austrian Physician

Likely refers to Sigmund Freud, the founding father of psychoanalysis, though there are many other notable Austrian physicians.