Which of the Following Is True

question 73

Multiple Choice

Which of the following is true?

• A) An accord and satisfaction involves a new party,but a substituted contract does not.
• B) Both an accord and satisfaction and a substituted contract involve a new party.
• C) An accord and satisfaction discharges the duties under the original contract only when it has been performed,whereas a substituted contract discharges duties under the original contract upon formation of the substituted contract.
• D) A substituted contract can occur for any kind of contract but an accord and satisfaction can be used only for contracts for the sale of goods.

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Definitions:

Similar-To-Me Effect

A bias where individuals are more favorable towards others who they perceive as similar to themselves in some manner.

The Halo Effect

The halo effect is a cognitive bias where the perception of one positive trait influences the perception of other traits of an individual or object.

Social Information Processing

Involves how individuals perceive, interpret, and respond to social information in their environment, affecting their social interactions and outcomes.

Social Comparison

Social Comparison is the process by which individuals evaluate their own abilities, qualities, and situations against those of others to form judgments about themselves.