Nina Has Breached a Contract Between Milo and Her,but Not

question 1

Multiple Choice

Nina has breached a contract between Milo and her,but not so materially.This means that Milo can:

• A) sue only for damages caused by the breach
• B) sue for damages for a total breach of the contract
• C) cancel the contract
• D) withhold his performance,even if the breach is remedied

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Definitions:

Representativeness Heuristic

A cognitive bias in decision-making where the likelihood of an event is estimated based on how much it resembles existing stereotypes or patterns.

Availability Heuristic

A cognitive bias where people overestimate the importance or frequency of information that is readily available to them.

Anchoring and Adjustment Heuristic

A mental shortcut that influences the way people intuitively assess probabilities and make decisions based on initial information.

Escalation of Commitment

The phenomenon of investing increasingly more resources into a failing course of action due to cognitive biases and sunk costs.