A Contract Is No Less Binding When Negotiated by an Agent

question 27

True/False

A contract is no less binding when negotiated by an agent than by the principal.

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Definitions:

Automated Tolerance-Check

An Automated Tolerance-Check is a digital process for verifying if an object, component, or system falls within specified limits or tolerances.

Preventative Maintenance

Maintenance activities performed regularly on equipment before faults occur, aimed at preventing breakdowns and ensuring efficient operation.

Breakdowns

Unplanned stops in machinery or systems due to failure, requiring maintenance or repairs to return to operational state, similar to the concept of Breakdown Maintenance but emphasizing the event rather than the response.

Preventative Measures

Actions taken to reduce the likelihood of an undesirable event occurring, focusing on risk management and safety protocols.