The Failure of One Party to Perform Under a Contract

question 67

True/False

The failure of one party to perform under a contract entitles the other party to rescind the contract.

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Definitions:

Attribution

In psychology, the process by which individuals explain the causes of behavior and events; in organizational behavior, it relates to how people perceive the actions of others in the workplace.

Self-Serving Bias

A cognitive bias where individuals attribute positive outcomes to their own actions and negative outcomes to external factors, protecting their self-esteem.

Causal Explanations

The process of identifying and understanding the reasons behind occurrences or phenomena.

Stereotyping

A cognitive process where individuals assign generalized attributes, beliefs, or perceptions to a group of people, leading to oversimplified opinions or prejudiced attitudes.