A Modification of a Preexisting Contract Occurs When the Parties

question 4

True/False

A modification of a preexisting contract occurs when the parties agree to change one or more of its terms.

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Definitions:

Common Way

A widely accepted or standard method of doing something, often referred to in the context of procedures, practices, or paths.

KISS Rule

A design principle that stands for "Keep It Simple, Stupid," suggesting that systems or products function best when they are kept simple rather than made complicated.

Senser Personality

A characteristic in personality type theories that focuses on preference for taking in information through the five senses and living in a more concrete, here-and-now manner.

Stimulus-response Model

A behavioral theory suggesting that an individual's actions (responses) are direct reactions to external stimuli.