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"Some Contracts Are Considered Illegal Even Though the Conduct Involved

question 143

Essay

"Some contracts are considered illegal even though the conduct involved is not prohibited by any law." Explain the accuracy of this statement.


Definitions:

Bounded Rationality

A decision strategy that relies on limited information and that reflects time constraints and political considerations.

Bounded Rationality

A theory suggesting that decision-makers are limited by the information they have, their cognitive limitations, and the finite amount of time they have to make a decision.

Time Constraints

The limitations or deadlines imposed on a task or project, influencing its completion.

Political Considerations

Factors related to government, policy, or organizational politics that influence decisions and actions.

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