Describe the Different Types of Performance Appraisals

question 121

Essay

Describe the different types of performance appraisals.Which is least valid,and why?

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Definitions:

Warranty

A guarantee, typically from a manufacturer or seller, that a product will meet certain standards of quality and reliability or that specific repair or replacement actions will be taken if it does not.

Condemned

Property that has been officially taken by a government for public use, or deemed unsafe or unfit for use, often through the process of eminent domain or as a result of health and safety inspections.

Fair Market Value

Fair market value is the price at which an informed, willing, but not compelled buyer would pay to an informed, willing, but not compelled seller in an arm's-length transaction.

Adverse Possession

A principle in property law where a person who does not have legal title to a piece of property acquires legal ownership based on continuous possession of the property for a certain period of time.