The post-settlement settlement strategy:Allows negotiators to explore other options that both parties prefer over theircurrent settlement termsAllows negotiators to start with a clean slateAllows people to negotiate in such a manner that their first offer is, in effect,their last offer and they do not waste valuable time going back and forthInvolves the use of a mediator who attempts to recommend viable settlementswhen parties cannot reach mutual settlementAllows negotiators to reach a deal that is based on trust and a handshake

A negotiation tactic used to enhance the conditions of an existing settlement is known as a…

Answered: The post-settlement settlement…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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What is the strategy called in which negotiators reach a tentative binding settlement, but agree to explore other options with the goal of finding another that one or both prefer more than the current one; if one is not found, the current settlement is imposed. Is it a) Unbundling b) Multiple simultaneous offers c) Post settlement settlement d) Win-win negotiation
Fourteen applicants for a city of Providence, Rhode Island, police academy training class each received from the city a letter stating that it was a "conditional offer of employment" subject to successful completion of medical and psychological exams. The 14 applicants passed the medical and psychological exams. However, these applicants were replaced by others after the city changed the selection criteria. Can you identify an offer and acceptance in this case? Can you make out a bilateral or unilateral contract? Why or why not? Provide a rationale or explain how you came to this conclusion.
Fourteen applicants for a city of Providence, Rhode Island, police academy training class each received from the city a letter stating that it was a "conditional offer of employment" subject to successful completion of medical and psychological exams. The 14 applicants passed the medical and psychological exams. However, these applicants were replaced by others after the city changed the selection criteria. Can you identify an offer and acceptance in this case? Can you make out a bilateral or unilateral contract? Why or why not? Provide a rationale or explain how you came to this conclusion. What is the moral of the case? Lessons Learned? Affects to the 14 applicants?
1. The parties to a negotiation can discuss many issues besides price. Select five nonprice issues over which a buyer and seller can reach agreement, and explain why each issue might be important to the buyer or seller. 2. Develop a profile of a skilled or effective negotiator. 3. Contrast a win-win negotiator with a win-lose negotiator. 4. What information should a buyer gather about a supplier before entering into a negotiation? 5. What are likely to be the most important sources of power in a buyer-seller negotiation? 6. Why are concessions important during a sourcing negotiation? How do the parties to a negotiation demonstrate their willingness to compromise? 7. What are some examples of price indices that might be used to track commodity prices such as steel or copper, and how should they be included in the schedule to minimize risk to both parties? 8. What are the risks to buyers associated with each of the different types of contracts (fixed- price, incentive, and cost-based…
Mention three [03] skills a competent negotiator should have in handling conflicts.
1- List the elements required for a valid contract and provide a definition for each element. 2-Define briefly bilateral contract and unilateral contract and provide an example for each. When it comes to revoking a contract what is the main difference between a unilateral contract and a bilateral contract?
Which of the following types of contract does not require consideration to be given? A simple contract. A bilateral contract. A formal contract. O A unilateral contract.
What is the strategy called in which negotiators reach a tentative binding settlement, but agree to explore other options with the goal of finding another that one or both prefer more than the current one; if one is not found, the current settlement is imposed
In some negotiation situations, one or both parties may require the counterparty to sign a nondisclosure agreement in advance of any projects they might do together. In this situation, both parties are taking a contractual risk, which means: one party might not honor the terms of this nondisclosure agreement one party might accept the first set of agreeable terms and sign the contract immediately the counterparty might have different private valuations for the value of the assets in the negotiation one party might use risky strategies at the bargaining table
James is looking to enter into a listing contract with Mary to sell her house. The two are trying to come to an agreement on what type of listing contract to use. What type of listing contract will offer James the least amount of protection? O An open listing agreement since it is a unilateral contract. O An exclusive Right to Sell agreement since it is a bilateral contract. O An Exclusive Agency agreement since the owner can still find a buyer themselves O An Exclusive Agency agreement since it is a unilateral contract.
Select the statement that describes how bilateral and unilateral contracts are alike and different. Both contract types involve two parties. But in bilateral contracts, both parties make a promise; in unilateral contracts, only one party does. Both are valid contract classifications, but only bilateral contracts involve two parties. Both are valid contract classifications, but only unilateral contracts involve two parties. Both contract classifications involve two promises, but only bilateral contracts involve two parties.
Courts sometimes step in to protect contracting parties from the consequences of poor negotiation or foolish decision-making, usually requiring near-equity of value in the exchange underlying a contractual bargain. O True False

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