What Are the Four Basic Elements of a System

question 32

Essay

What are the four basic elements of a system?

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Definitions:

Undue Influence

A situation where an individual is able to influence another person's decisions due to a special relationship, often leading to unfair advantages.

Ratification

The adoption or affirmance by a person of a prior act that did not bind him.

Mutual Mistake

A misunderstanding between all parties of a contract regarding the basic facts or terms of the contract, which can make the agreement voidable.

Unilateral Mistake

A misunderstanding or error made by one party in a contract, which may not necessarily void the contract.