Examlex
All of the following are reasons why a labor market may remain segmented rather than eventually settling into a competitive labor market except:
Legal Assent
The express or implied agreement to the terms of a contract, demonstrating a mutual understanding and intention to be bound by those terms.
Courts
Institutions established by governmental entities to settle disputes through a legal process by applying laws and issuing decisions, rulings, or judgments.
Unilateral Mistake
A unilateral mistake occurs when only one party to a contract is mistaken about a basic assumption on which that party entered into the contract.
Mutual Mistake
A situation in contract law where all parties involved have a mistaken belief about a basic assumption on which the contract is based.
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