Unless a Contract So Provides, Time Is Ordinarily Not of the Essence

question 43

True/False

Unless a contract so provides, time is ordinarily not of the essence, and performance within a reasonable time is sufficient.

Comprehend the role and structure of the Securities and Exchange Commission in regulating securities markets.

Understand the exemptions from registration requirements and the conditions under which they apply.

Grasp the importance of due diligence and the legal defenses available in securities regulation.

Understand and calculate trade discounts and their impact on cost.

---

Definitions:

Conditioned Response

A learned reaction to a previously neutral stimulus, resulting from the repeated pairing with an unconditioned stimulus that naturally elicits a response.

Generalization

The process of responding similarly to different but related stimuli, often used to explain how people apply learning from specific instances to broader contexts.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, eventually comes to trigger a conditioned response.

Respondent Behavior

A type of behavior that occurs as a direct response to a specific stimulus in the environment, typically automatic and reflexive in nature.