The "Law of Demand" Hypothesizes That,other Things Being Equal

question 107

Multiple Choice

The "law of demand" hypothesizes that,other things being equal,

• A)the lower the price,the greater the demand.
• B)price and demand vary inversely.
• C)the higher the price,the lower the quantity demanded.
• D)the higher the income,the higher the quantity demanded.
• E)price and quantity demanded are positively related.

Analyze the concept of integrated contracts and the use of merger clauses.

Understand the scope and applications of the statute of frauds in contract law.

Identify types of contracts that require writing under the statute of frauds.

Recognize the role of secondary obligations and guarantees in the enforcement of contracts.