A Lack or Failure of Consideration Is No Defense to Payment

question 42

True/False

A lack or failure of consideration is no defense to payment of a negotiable instrument to any holder.

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Definitions:

Lewin's Basic Change Model

A model proposed by Kurt Lewin that describes organizational change through three stages: unfreezing, changing, and refreezing.

Internal Force

Forces within an organization that cause it to change, such as innovation, organizational culture, and employee behavior.

Organizational Restructuring

The process of changing an organization's structure, strategies, or processes to improve efficiency, productivity, or adapt to new challenges.

Unfreezing

The process in Lewin's change management model where existing behaviors or attitudes are challenged to prepare for change.