Mark the correct statements:
1. An agreement without consideration is void
2. Consideration should have some value in the eyes of law
3. Consideration must be adequate
4. Invitation cannot be proved in a court of law
An agreement without consideration is void - This is a fundamental principle of contract law. Consideration is essential for a contract to be valid, and an agreement without consideration is considered to be a gift, which is not legally enforceable. Consideration should have some value in the eyes of law - Consideration must have some value, although it need not be adequate. For example, a promise to pay Rs.1,000 in exchange for a car worth Rs.50,000 would still be valid consideration, even though the consideration is not adequate. Consideration must be adequate - This statement is incorrect. Consideration need not be adequate, but it must have some value in the eyes of law. Invitation cannot be proved in a court of law - This statement is incorrect. An invitation to make an offer (also known as an invitation to treat) is an essential element of a contract. It is not an offer, but it is a preliminary step towards making an offer. An invitation to treat can be proved in a court of law.
Decision making is core to which of the following management functions?
The pre-dispositioning theory of decision making was given by ___________
Which of the following best describes the normative model of decision making?
Decision making process first requires identification of problem. Which of the following types of problems can be considered here?
Programmed decisions address the _________ problems.
Rohan wants to buy a laptop. He wants a laptop that has 5 GB RAM, cost less than Rs.30,000 and is light weight. Which of the following step of rational ...
Which of the following is not a constraint(s) under Bounded rationality that lead to a satisficing decision?
Which of the following is not a group decision making technique?
What is a potential drawback of relying solely on intuition when identifying possible solutions?
Non programmed decisions are most likely to be made by: