Under the Objective Theory of Contracts,a Contract Could Result from an Offer

question 37

Multiple Choice

Under the objective theory of contracts,a contract could result from an offer made:

• A)In jest.
• B)In anger.
• C)Due to a need to sell an item quickly.
• D)Due to undue excitement.

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Definitions:

Zero-Sum Game

A situation in economics or game theory where one party's gain is precisely balanced by another party's loss.

Dominant Strategy

In game theory, a strategy that is best for a player regardless of the strategies chosen by the other players.

Payoff

The return or profit from an investment or action.

Alternative Option

A different choice or course of action that is available to individuals or organizations.