Which of the Following Elements Has to Be Proved for a Contract

question 32

Multiple Choice

Which of the following elements has to be proved for a contract to be deemed unconscionable?

• A) that the weaker party did not enter the contract under duress
• B) that the parties had equal bargaining power
• C) that the dominant party justly used its bargaining power
• D) that the adhering party had no reasonable alternative

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Definitions:

Accounts Receivable

The money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Cash Collections

The process of receiving payment from customers for goods or services provided, impacting the company’s cash flow.

Merchandise Inventory

The total value of a company's goods that are ready for sale to customers at any given time, reflecting in its balance sheet.

Building Contractors

Businesses or individuals specialized in the construction and renovation of buildings, overseeing project execution from planning through completion.