In December,2001,Mark Signs a Written Consulting Agreement for the Period

question 75

Multiple Choice

In December,2001,Mark signs a written consulting agreement for the period of January,2002,through May,2003.The contract is going well,so on June 15,2002,the parties orally agree to extend the arrangement by 4 months through September 2003.In October 2002,the client tells Mark that the 4-month extension will not be honored.Under these circumstances:

• A)The extension is unenforceable because it cannot be completed within one year of when the extension agreement was made.
• B)The extension is unenforceable due to the parol evidence rule.
• C)The extension is enforceable because the period of extension was less than 1 year.
• D)The extension is enforceable because of the part performance exception.

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Definitions:

Risky-Shift Effect

A phenomenon where a group collectively decides on a course of action that is riskier than the decisions that individual group members would make on their own.

Informational Influence

Informational Influence occurs when individuals conform to the behaviors or attitudes of a group to obtain and accept accurate information or because they believe the group is competent.

Groupthink

A phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Deindividuation

A psychological state where an individual loses self-awareness and self-restraint, often in group settings, leading to uncharacteristic behavior.