Making Concessions Symbolizes a Negotiator's Motivation to Bargain in Good

question 53

True/False

Making concessions symbolizes a negotiator's motivation to bargain in good faith.

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Definitions:

Privity of Contract

The principle that a contract confers rights and imposes liabilities only on its parties; no outsider can gain rights or be liable under it.

Novation

The process of replacing an existing obligation with a new one, substituting a party or terms in a contract with the consent of all parties involved.

Rules of Interpretation

Guidelines and principles used to determine the meaning and intention of legal texts and statutory provisions.

Doctrine of Privity

A principle in contract law stating that contracts are binding only upon the parties signing the contract and no third party can enforce or be bound by the contract.