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________ Exists When a Person Places More Value on Avoiding

question 51

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________ exists when a person places more value on avoiding losses than attempting to realize gains.


Definitions:

Nonperformance

Failure to fulfill a contractual duty or obligation.

Late Charges

Additional fees charged to a borrower for failing to make payments on time.

Time Of Essence

A contractual clause declaring that specific timelines and deadlines are crucial to the contract, with any delay constituting a breach.

Election Day

A designated day on which voters cast ballots to elect public officials or to decide on other political or legal questions.

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