Sully Signs a Contract to Borrow $200,000 from Riverside Bank

question 19

Multiple Choice

Sully signs a contract to borrow $200,000 from Riverside Bank to buy a house. In the contract, Sully agrees to pay a certain rate of interest on the amount of borrowed funds at monthly intervals for thirty years. This debt is

• A) an illusory promise.
• B) liquidated.
• C) past consideration.
• D) unliquidated.

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Definitions:

Dispositional Attribution

The tendency to attribute people's behaviors to their character or personality, rather than considering external factors that might influence their actions.

Situational Attribution

The process of attributing a person's actions to external circumstances or situations rather than to internal characteristics.

Self-serving Bias

A common tendency for individuals to attribute their successes to internal factors while blaming external factors for their failures.

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors when judging others' behavior.