Which of the Following Is the Best Example of a Precommitment

question 94

Multiple Choice

Which of the following is the best example of a precommitment used to overcome time inconsistency?

• A)finding a running partner and setting a regular schedule of when you will run together
• B)deciding to save a percentage of each month's paycheck
• C)signing up for a free trial membership at the local gym
• D)buying an alarm clock

---

Definitions:

Parol Evidence Rule

A legal principle that prevents parties to a written contract from presenting extrinsic evidence of terms of the agreement that contradict, modify, or vary contractual terms agreed upon in the written document.

Partially Written

Describes a document or agreement that is composed of both handwritten and typed or printed elements.

Majority Rule

Majority rule is a decision-making principle whereby the choice of the greater number of participants in a group is accepted as the decision for the whole group.

One-Year Provision

A legal principle stating certain contracts must be in writing if they cannot be performed within one year of their making.