Examlex
Cattell's taxonomy included _____ traits.
Mutuality of Benefit
The principle that both parties involved in a contract or agreement must stand to gain from the arrangement for it to be valid and enforceable.
Promissory Estoppel
A legal principle that prevents a person from going back on a promise, even if it was not a formal contract, when the other party has relied on that promise to their detriment.
Legal Detriment
A loss or disadvantage that occurs to one party in a contract, considered a necessary component for a valid contractual agreement.
UCC
Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.
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