It Is Sometimes the Case That Parties to a Contract

question 14

Multiple Choice

It is sometimes the case that parties to a contract are unwilling to settle a contract because they don't want to take the blame for poor terms of the agreement. In these cases, the parties will often rely on the arbitration process to make the decisions for them. The term used to describe this problem is:

• A) the chilling effect.
• B) the ripple effect.
• C) the narcotic effect.
• D) the arbitration effect.

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Definitions:

Collectivist Cultures

Cultures in which the self is regarded as embedded in relationships, and harmony with one’s group is prized above individual goals and wishes.

Personal Goals

Individual objectives, targets, or aspirations that a person aims to achieve or accomplish.

Value Duty

The ethical obligation or responsibility to uphold certain values or moral principles.

Childrearing Methods

Various strategies and practices employed by parents or guardians to nurture and educate children, influencing their development and behavior.