In Dealing with Unconscionability

question 45

Multiple Choice

In dealing with unconscionability:

• A) most cases have involved low-income consumers.
• B) courts have demonstrated an unwillingness to limit freedom of contract.
• C) courts have applied the doctrine to the negotiation process,which involves substantive unconscionability.
• D) courts have not considered inequality in the bargaining positions of the parties.

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Definitions:

Book Value

The net value of a company's assets found on the balance sheet, calculated by subtracting liabilities from the total value of assets.

Variable Costs

Expenses that change in proportion to the activity of a business, such as materials and labor costs that increase with production volume.

Book Value

The value of an asset according to its balance sheet account balance, taking into account the cost of the asset minus its depreciation.

Variable Costs

Costs that change in proportion to the level of production or sales activity, such as raw materials and direct labor.