When an Offeree Is Not Aware of the Insanity of the Offeror

question 13

True/False

When an offeree is not aware of the insanity of the offeror and communicates assent to an offer, it is considered as accepted.

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method or decision.

Self-Control Problem

The difficulty individuals face in resisting short-term temptations to meet long-term goals.

Behavioral Economists

Experts who analyze the influence of psychological, cognitive, emotional, cultural, and social factors on the economic choices of persons and entities.

Self-Interest

That which each firm, property owner, worker, and consumer believes is best for itself and seeks to obtain.