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Rico Has Decided to Change His Lifestyle and Has Ordered

question 50

True/False

Rico has decided to change his lifestyle and has ordered vegetables with his meal rather than chips or potatoes.He knows that the nutritional value of the fresh green vegetables will be great for his health.Rico is satisfying hedonic needs with his actions.

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Definitions:

Sufficient Consideration

The value that is deemed adequate by the parties involved and law as part of an agreement or contract, ensuring it is binding and enforceable.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a treaty that provides a uniform international sales law.

Consideration

Something of value exchanged between parties in a contract that is necessary for the agreement to be legally binding, such as money, services, or promises.

UCC

Short for Uniform Commercial Code, it is a set of laws that provide legal framework for commercial transactions in the United States.

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