Where Two Parties Contract for the Purchase and Sale of an Ordinary

question 25

Multiple Choice

Where two parties contract for the purchase and sale of an ordinary item,such as a desk,that unknown to both parties is a rare and valuable example of that item,this is a:

• A) unilateral mistake.
• B) mutual mistake of law.
• C) mistake of value, but not a mistake of fact.
• D) case of fraud by concealment.
• E) case of implied-in-fact mistake.

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Definitions:

Intrafunctional Scope

Refers to operations or strategies that occur within a single business function or department, focusing on tasks and goals specific to that function.

Supply Chain Strategy

A plan for managing all the resources that go toward meeting customer demand for a product or service, from sourcing raw materials to delivering the final product.

Procurement

The process of obtaining goods or services, often involving tendering or bidding, to fulfill organizational needs.

Functional Strategies

Specific strategies targeting the operations and objectives within a particular business function, such as marketing, finance, or production.