The Policy of Reducing or Eliminating Regulatory Restraints on the Conduct

question 133

Multiple Choice

The policy of reducing or eliminating regulatory restraints on the conduct of individuals or private institutions is called

• A)deregulation.
• B)downsizing.
• C)devolution.
• D)reorganizing.

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Definitions:

Duty of Performance

An obligation of a party in a contract to fulfill the terms and conditions as agreed within the contract.

Reasonable Skill

A term used to describe the level of competence that a professional or practitioner is expected to display in their field, often used in legal contexts to establish standards for professional services.

Fiduciary

A person who holds a position of trust, required to act for the benefit of another party with respect to specific duties.

Equal Dignity Rule

A legal principle requiring that agents conducting transactions on behalf of principals must have the authority to do so, which is granted with the same formality as the underlying transaction.