A Contract Must Be in Writing to Be Enforceable If

question 23

True/False

A contract must be in writing to be enforceable if the contract makes performance possible within any definite period of time.

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Definitions:

Recognition Heuristic

A cognitive shortcut where individuals give greater importance to options that they recognize over those they do not.

Behavioral Economics

A field of economic research that examines the psychological and emotional factors affecting people's economic decisions and actions.

Neoclassical Economics

A branch of economics focusing on the determination of goods, outputs, and income distributions through supply and demand as mediated by prices.

Fairness

Fairness is a concept reflecting equitable, impartial, and just treatment or behavior without favoritism or discrimination.