Define and compare the terms "vagueness" and "ambiguity."
?
Vagueness occurs when the parties do not want the contract to be clear. They want to keep their options open, so they don't clearly define some terms.
Ambiguity is different --- it means that the provision is accidentally unclear. It occurs in contracts when the parties think only about what they want a provision to mean, without considering the literal meaning or the other side's perspective. Any ambiguity is interpreted against the drafter of the contract.
?
You might also like to view...
Practical standards are the most effective standards for controlling and motivating workers
Indicate whether the statement is true or false
In the early work on leader behavior, Lewin and his associates relied on which of the following three leadership behaviors?
a. charismatic, participative, directive b. accommodating, conflicting, compromising c. democratic, autocratic, laissez-faire d. structuring, consideration, instrumental
In the context of supervisors' relationships with their managers, "results" means
A. a supervisor says only positive things about company policies and about his or her manager. B. a supervisor works with others in the organization to achieve organizational goals. C. a supervisor should see that the department meets or exceeds its objectives. D. a supervisor expects to be informed about the department's performance.
Why does preferred stock not have the potential for capital gains like common stock does?
What will be an ideal response?