If the Counterparty Opens with an "Outrageous" Offer,the Negotiator Should

question 7

Multiple Choice

If the counterparty opens with an "outrageous" offer,the negotiator should:

• A)lower his/her aspirations
• B)reveal his/her reservation price
• C)immediately re-anchor
• D)appeal to norms of fairness

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Definitions:

Public Policy

Public policy refers to the system of laws, regulatory measures, courses of action, and funding priorities concerning a given topic promulgated by a governmental entity or its representatives.

Oral Assignments

Assignments or agreements made verbally rather than in writing; depending on the context, they may not be legally binding.

Notice of Assignment

A formal notification that a contract or property has been legally transferred from one party to another.

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged.