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If You Ask a Question About Behavior That Concerns How

question 22

Multiple Choice

If you ask a question about behavior that concerns how it works or what its mechanism is, you are asking a question that involves ________.

Learn the legal standards used to evaluate the intent and certainty necessary for contract formation.
Understand the components and legal implications of conditional acceptances and counteroffers.
Identify and explain the mirror image rule under common law.
Describe the process of mutual assent in contract formation.

Definitions:

Expressed Agency

An agency created in a written or oral agreement. Also called agency by agreement.

Apparent Agency

An agency relationship created by operation of law when one party, by his actions, causes a third party to believe Experiential Element

Insolvency

A financial state where an individual or entity cannot meet their debt obligations as they become due.

Fiduciary

A person or organization that acts on behalf of another person or persons, putting their clients' interest ahead of their own, with a duty to preserve good faith and trust.

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