​ Mark, a Civil Engineer, Entered into a Contract with David

question 8

Multiple Choice

​ Mark, a civil engineer, entered into a contract with David. As per the contract, Mark agreed to design and build a house for David for a specified fee. Mark provided David with an estimation of the total cost and the contract was mutually agreed upon. However, during construction, when Mark increased the price due to a miscalculation on his part, David refused to pay the amount. This scenario is an example of a mistake.

• A)mutual
• B)collective
• C)collateral
• D)unilateral

Comprehend the application of budgeting techniques in different organizational contexts (e.g., manufacturing vs. service).

Understand the concept and significance of the capacity to delay gratification.

Recognize the complex nature of suicide, including contributing factors and the emotional state of suicidal individuals.

Describe strategies and psychological concepts related to self-regulation and how they impact decision-making processes.

---

Definitions:

F.O.B. Boston

A term indicating that the seller is responsible for goods transportation and risk until the goods are loaded onto a ship in Boston.

Risk Of Loss

Legal term defining which party bears the financial responsibility for damage, destruction, or loss of property, particularly in transactions of goods.

FOB Seattle

A shipping term indicating that the seller's responsibility ends when the goods are placed on board a ship at the Seattle port; the buyer is responsible for freight and risks from that point.

Risk Of Loss

Refers to the legal responsibility regarding who bears the financial burden if goods are damaged or lost during a transaction.