Examlex
Your professor has informed you at the beginning of the term that you will have eight tests--but they will all be unannounced. This is most similar to a ________ reinforcement schedule.
Option
A contract that grants the holder the right, but not the obligation, to buy or sell an asset at a designated price within a specified timeframe.
Promissory Estoppel
A legal principle that prevents a promisor from retracting a promise which the promisee has relied upon to their detriment, in the absence of a formal contract.
Unilateral Contract
An agreement in which one party makes a promise, but the other party is not required to respond with a promise in return; performance is the only acceptance needed.
Invitation Seeking Offers
An invitation to negotiate or an invitation to the public to make an offer, which is a common practice in contract law, particularly in the context of tenders.
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