Which One of the Following Types of Liabilities Represents a Duty

question 16

Multiple Choice

Which one of the following types of liabilities represents a duty not contractually present but which may nevertheless exist due to ethical principles of fairness?

• A)Deferred credits
• B)Constructive obligations
• C)Equitable obligations
• D)Contingent liabilities

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Definitions:

Irrational Escalation

The phenomenon where individuals increase their investment in a decision based on the cumulative prior investment, despite new evidence suggesting that the decision was probably wrong.

Fixed Pie

A misconception in negotiations where parties incorrectly believe that their interests are directly opposed, assuming that one party's gain is the other's loss.

Reframing

The process of changing the perspective or context of a situation to view it in a new light.

Thrust, Tone

The main direction, force, or emphasis of a discourse or negotiation, along with the mood or attitude conveyed through it.