Mimi Rarely Takes Chances Because She Hates the Idea of Losing

question 29

Multiple Choice

Mimi rarely takes chances because she hates the idea of losing. It sounds as though Mimi is:

• A) impaired when making life judgments or decisions
• B) being influenced by framing
• C) being risk-averse
• D) being risk-seeking

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Definitions:

Delegatee

A third party who is not part of the original contract but to whom duties to perform are transferred by one of the contracting parties (a delegator).

First-Assignment-In-Time Rule

A rule which states that the first party granted an assignment is the party correctly entitled to the contractual right.

English Rule

A rule which states that the first assignee to give notice of assignment to the obligor is the party with rights to the contract.

American Rule

The American Rule is a legal principle stating that each party in a lawsuit is responsible for paying their own attorney's fees, unless specific authority granted by statute or contract allows the prevailing party to recover those fees from the loser.