_____ Involves Activities That Managers Undertake to Try to Prevent

question 7

Short Answer

_____ involves activities that managers undertake to try to prevent crises from occurring and to detect warning signs of potential crises.

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Definitions:

Mistake Of Value

A legal concept referring to an error made by one or both parties at the time of contract formation, concerning the value of the goods or services to be exchanged.

European Courts

Judicial institutions operating within Europe, including both national courts of individual sovereign countries and transnational courts such as the European Court of Justice.

Promissory Estoppel

A legal principle that prevents a party from withdrawing a promise made to another, when the latter has reasonably relied on that promise to their detriment.

Consideration

A crucial element in contract law, referring to something of value promised to another when forming a contract.