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Mumz [18]
3 years ago
11

Jennifer has offered to sell her laptop computer for $750 to Jack. She tells Jack that the computer is only six months old but,

in fact, it is three years old, and Jennifer wants to unload the lemon. Jack agrees to buy the computer based on Jennifer's representations. This contract is _________.
a. a void agreement because of the fraud involved.b. a voidable contract, one that Jack can void.c. a voidable contract, because it is unilateral.d. a void contract because of the UCC.
Business
1 answer:
Debora [2.8K]3 years ago
4 0

Answer:

B) a voidable contract, one that Jack can void.

Explanation:

A voidable contract is valid until one of the parts decides to void it. In this case, if Jack decides to purchase Jennifer's computer and later discovers that she lied about how old it was, he can void the contract and return the computer to get his money back.

What Jennifer is doing is basically lying about the material facts of the product that they are bargaining and it represents a valid reason for voiding the contract.

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Dahasolnce [82]
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8 0
3 years ago
A contract is ____________ if one or both of the parties have the ability to either withdraw from the contract or enforce it.
Paladinen [302]

Answer: Voidable contract.

Explanation: Voidable contract is enforceable by law at the option of one or more parties but not an option of the the other parties. A voidable contract can still be considered valid if its not cancelled by the aggrieved party within a stipulated time. A contract is said to be a voidable contract if the contract is entered into without the free consent of the party. Typical grounds for a contract being voidable include coercion , undue influence and fraud. A contract made by a minor is often voidable.

It is a valid contract which may be either affirmed or rejected at the option of one of the parties involve.

7 0
3 years ago
During a severe recession Congress passes legislation to cut taxes, this would be an example of a(n): g
Doss [256]

Answer:

expansionary fiscal policy.

Explanation:

Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.

A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.

Basically, an expansionary fiscal policy will cause the total increase in aggregate demand to be greater than the initial increase in aggregate demand due to the multiplier process.

Hence, if during a severe recession, Congress passes legislation to cut taxes, this would be an example of an expansionary fiscal policy.

According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers.

5 0
3 years ago
Most CLEP exams correspond to blank college courses
Kamila [148]
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8 0
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One example of a microeconomic question is, "How will prices in the clothing industry change if the government bans imports from
fredd [130]

Answer:

True

Explanation:

Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources

The question is looking at the effect of price on an industry. This is what microeconomics study

Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.

6 0
3 years ago
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