The Network of Relationships That Individuals Have Throughout the Organization

question 24

Multiple Choice

The network of relationships that individuals have throughout the organization is known as

• A)human capital.
• B)social capital.
• C)intellectual capital.
• D)tacit knowledge.

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Definitions:

Past Consideration

Refers to an act or benefit given in the past that cannot be legally considered as an inducement for a contract.

Illusory Promise

A statement that appears to be a promise but is too vague or lacks the requisite commitment to be legally enforceable as a contract.

Promissory Estoppel

A legal principle that prevents a promisor from arguing that an underlying promise offered should not be legally upheld if the promisee has relied on that promise to their detriment.

Unilateral Contract

A type of contract in which only one party makes a promise to perform in exchange for an act by the other party.