If Each of the Parties to a Contract Controls a Resource

question 56

True/False

If each of the parties to a contract controls a resource essential for the other's survival, opportunistic behavior by any of them will increase the value of the transaction.

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Definitions:

Contract

A legally enforceable agreement between two or more parties, typically involving the exchange of goods, services, money, or promises.

Court

A governmental body authorized to adjudicate legal disputes, interpret laws, and administer justice.

Basis

The underlying support or foundation for an idea, argument, or process.

Sue

To initiate legal proceedings against an individual or entity in order to seek redress or enforce a right.