What Is Considered Ethical May Differ Depending on the ___

question 2

Multiple Choice

What is considered ethical may differ depending on the ___ in which a business operates.

• A) city
• B) culture
• C) trade bloc
• D) hemisphere
• E) industry

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Definitions:

Novation

The act of replacing an original party in a contract with a new party, with the consent of all involved, effectively creating a new contract.

Previous Valid Obligation

A duty or commitment that has been legally recognized and must be fulfilled as previously agreed or contracted.

Novation

The act of replacing an old obligation with a new one, thereby extinguishing the original obligation.

Consideration

In contract law, the benefit or value that each party agrees to give or receive as part of a legal agreement.