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

question 94

Multiple Choice

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

• A) that the stronger party entered the contract under duress
• B) that the parties had equal economic resources at their disposal
• C) that the parties possessed severely unequal bargaining power
• D) that the dominant part had justly used its economic resources

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Definitions:

Straight-line Method

A depreciation method that allocates an equal amount of depreciation expense for an asset over its useful life.

Salvage Value

The estimated residual value of an asset at the end of its useful life, usually considered for depreciation calculations.

Depreciation Method

A systematic approach used to allocate the cost of a tangible asset over its useful life.

Sales Price

The amount of money charged for a product or service, or the sum that customers are willing to pay for it.