Evaluating and shaping a resolution Bar Exam Flashcards - Medical Study Cards
Master Evaluating and shaping a resolution with Oncourse flashcards. These spaced repetition flashcards are designed for medical students preparing for NEET PG, USMLE Step 1, USMLE Step 2, MBBS exams, and other medical licensing examinations.
Evaluating and shaping a resolution Flashcard Deck - 7 Cards
Flashcard 1: What is a BATNA, and how does it affect negotiation?
Answer: A BATNA is a party’s best alternative to a negotiated agreement if no agreement is reached. A party should compare each proposed resolution with its BATNA and reject a deal that is worse, considering risk, cost, delay, and enforceability.
Flashcard 2: What is the difference between a 'drawback of a proposed resolution' and a 'factor favoring the opposing party'?
Answer: A factor favoring the opposing party (Task 10) is a fact that strengthens their bargaining position (e.g., the client's urgent need for cash). A drawback of a proposed resolution (Task 11) is a negative consequence of the proposal itself for the client (e.g., the proposal's payment 90 days later, which doesn't meet the client's urgent need). One fact may support both observations, but the questions differ in focus.
Flashcard 3: A client needs a quick resolution due to urgent financial needs. How does this fact affect the opposing party's bargaining position, and why?
Answer: This fact favors the opposing party. The client's urgent need for cash strengthens the opposing party's bargaining position because the client may be willing to concede more or accept less to achieve a faster settlement, giving the opponent leverage.
Flashcard 4: What are the principal factors for evaluating a proposed settlement?
Answer: Evaluate expected litigation outcome, damages and defenses, costs, delay, collectability, confidentiality, precedent, nonmonetary relief, tax or regulatory effects, and enforceability. Compare the proposal’s certain value with the expected value and risks of the alternatives.
Flashcard 5: How does a negotiator convert a client's underlying interests into specific, negotiable terms?
Answer: A negotiator should identify the client's core interests (e.g., immediate cash, certainty, relationship preservation, exit strategy) and then translate each into a possible term (e.g., prompt payment, fixed delivery date, future performance agreement, clean termination). For each term, define an objective measure for performance and consider reciprocal trades to create value across different priorities.
Flashcard 6: What is a zone of possible agreement (ZOPA)?
Answer: The ZOPA is the range in which the parties’ reservation points overlap. If no overlap exists, agreement generally requires changing the parties’ expectations, adding value, or using contingent or nonmonetary terms.
Flashcard 7: What is a reservation point in negotiation?
Answer: A reservation point is the least favorable outcome a party is willing to accept. It should be based on the party’s BATNA, litigation risks, transaction costs, time value, and other material consequences.
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