Pierette Entered into a Contract with Hugo

question 43

Essay

Pierette entered into a contract with Hugo.She agreed to deliver a shipment of gold to his jewellery store each week for a year.He agreed to pay a specific price.The contract also said: "The buyer shall have the right to terminate this contract in the event of a substantial change in the market price of gold." After delivering gold to Hugo for several months, Pierette refused to go on with the contract.Her decision to do so was based on the fact that while her contract with Hugo contained a specific price, the market value of gold had suddenly increased a substantial amount.Consequently, she realized that her contract with Hugo no longer made good financial sense from her perspective.Would a court accept that argument from Pierette? Explain your answer.

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Definitions:

Variable-Ratio

A reinforcement schedule where a response is reinforced after an unpredictable number of responses, making it highly effective in maintaining behavior.

Fixed-Ratio

A schedule of reinforcement where a response is reinforced only after a specified number of responses, often used in behavior modification.

Stimulus Generalization

The psychological phenomenon whereby a response to a specific stimulus becomes associated with other stimuli, leading to a similar response.

Variable-Interval

A schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed.