Judicial Systems Across the World Are Based on Certain Codes

question 88

Multiple Choice

Judicial systems across the world are based on certain codes of legal provisions which are applied to individual cases.Thus, the job of a judge primarily involves making decisions by applying these rules of law to pass verdicts which is a function of his/her ability in the area of _____.

• A)deductive reasoning
• B)spatial reasoning
• C)verbal reasoning
• D)syllogistic reasoning
• E)inductive reasoning

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Definitions:

Credit Histories

Records that detail an individual's or entity's past borrowing and repayment activity, including any late payments, defaults, and current levels of indebtedness.

Asymmetric Information

A situation in which one party in a transaction has more or better information than the other, often leading to an imbalance in power or unfair outcomes.

Cost of Borrowing

The total expenses, including interest and fees, associated with taking out a loan.

Lemons

In economics, it refers to low-quality or flawed products that are difficult to identify prior to purchase, notably used in the context of the used car market.