The Five-Factor View of Personality Suggests That Humans Differ, to Greater

question 158

True/False

The five-factor view of personality suggests that humans differ, to greater or lesser degree, on five basic traits: emotional stability, extroversion, openness to experiences, agreeableness, and conscientiousness.

Understand how promissory estoppel can create binding obligations in the absence of traditional consideration.

Explain the conditions under which modifications to contracts require additional consideration under common law versus the UCC.

Discuss specific transactions that are enforceable without consideration (e.g., promissory estoppel, moral obligations).

Discriminate between enforceable promises and non-binding promises such as illusory promises and past consideration.

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Definitions:

Dishonoring Note

The failure to pay a promissory note when it comes due.

Maturity Date

The specified date on a financial instrument such as a bond or loan when the principal amount is due to be paid back in full.

Note Receivable

A financial asset representing a promise for future receipt of cash, often from loans or credit extended to others.

Factor

An element or condition that actively contributes to the production of a result, often used in the context of mathematics or economic analysis.