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Successful Negotiation: Essential Strategies and Skills Quiz Answer
Show What You Know
1. Position-based negotiators focus on finding what the other side wants, not why they want it.
2. Dispute resolution negotiations tend to be position-based.
3. The three key ADR processes are arbitration, mediation and avoidance.
4. Litigation and arbitration are examples of rights-oriented processes.
5. In a cross-cultural negotiation, “deep culture” refers to the negotiators’ values and beliefs.
6. If you are a seller, your stretch goal is the minimum price you will accept from the buyer.
7. The Zone of Potential Agreement is the zone between the stretch goals of the negotiators.
8. Under the “American Rule,” the loser in a trial pays the winner’s attorney fees.
9. When you are selling your car to a stranger, you do not owe a fiduciary duty during negotiations.
10. When a principal authorizes an agent to negotiate a contract, the agent has apparent authority.
Show What You Know
1. In some situations, you should disclose your BATNA to the other side during a negotiation.
2. Because of anchoring, you should never make the first offer in a negotiation.
3. Because of anchoring, you should always make the first offer in a negotiation.
4. Overconfidence is a problem when making decisions, as opposed to implementing decisions.
5. People tend to be risk averse when faced with positive choices.
6. Reciprocity is a useful tool to overcome problems that arise from relying on easily-available information.
7. Great negotiators tend to focus on their own perspectives during a negotiation as a way to dominate the other side.
8. The mythical fixed pie assumption is based on a belief that your interests during a negotiation directly conflict with the interests of the other side.
9. Reactive devaluation refers to currency devaluation that affects the price that you will offer during a negotiation.
10. One useful power strategy during a negotiation is to try to weaken the BATNA of the other side.
Show What You Know
1. Traditionally, contracts tended to be shorter in civil law countries.
2. Consideration in contracts is a common law requirement.
3. The UN Convention on Contracts for the International Sale of Goods covers sale of real estate.
4. Two people can enter into an agreement in writing that is not legally enforceable.
5. You offer to sell your car to Chris for 2000, with payment to be made on 23 February. Chris accepts your offer but changes the date to 26 February. You have a contract.
6. The Parol Evidence Rule requires that certain contracts must be in writing.
7. Lean contracting is limited to contracts for the lean production of products
8. To be legally binding, a contract must be in writing, but a formal document is not necessary.
9. You want your employees to sign non-compete agreements. These agreements are not legally enforceable everywhere.
10. The common law system relies heavily on case precedent.
Show What You Know
1. The mini-trial is an example of mediation.
2. Screens are used to select one of these two binding dispute resolution processes: arbitration and mediation.
3. The Corporate Pledge is an example of an ADR contract clause.
4. You can agree with the other side to use a dispute resolution procedure after a dispute arises.
ADR contract clauses can include more than one dispute resolution process.
6. Arbitration decisions are generally not subject to review in the court system.
7. With transformative mediation, the mediator is authorized to decide the case.
8. One difference between arbitration and negotiation is that arbitrators often use caucuses.
9. Preventive law focuses on trying to predict court decisions.
10. Arbitrators do not have to be lawyers.
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