The First Step in Preparing to Negotiate Is to Assess

question 21

True/False

The first step in preparing to negotiate is to assess the other party's best alternative to a negotiated agreement.

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Definitions:

Legally Valid

Meeting all required legal formalities and conditions, thereby enforceable in a court of law.

Unilateral Agreement

A contract where only one party makes a promise to perform without receiving a reciprocal promise from the other party.

Bilateral Agreement

A bilateral agreement is a legally binding contract between two parties, countries, or entities where each agrees to fulfill certain obligations to the benefit of the other.

Express Agreement

A legal contract in which all terms are explicitly stated and agreed upon by all parties involved.