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Scenario - Vaughn Bately
Vaughn Bately manages a group of eight electrical engineers at Defiance Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently one of Vaughn's engineers suggested a new technique for the development and use of an argon laser. There appeared to be rich potential for this technology, but Vaughn wasn't certain that developing this technology was the best use of his limited resources. Vaughn was facing a significant decision.
-If Vaughn uses the classical model of decision making, which of these assumptions would he reject?
Gift Promises
A declaration by an individual to transfer ownership of an item to another without the exchange of payment.
Legality
The state of being in accordance with the law; legality refers to conformity with statutes and regulations.
Consideration
In contract law, something of value exchanged between parties that is essential for a valid and enforceable contract.
Public Officials
Individuals elected or appointed to carry out governmental duties and responsibilities.
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