Under Which of the Following Circumstances Would a Court Be

question 46

Multiple Choice

Under which of the following circumstances would a court be likely to set a contract aside?

• A) if there is a lack of sufficient equality of the benefits received by each party
• B) if there is an attempt to take advantage of a handicapped,vulnerable person
• C) if there were witnesses to the contract
• D) if the parties put their contract in writing

---

Definitions:

Competitive Price

The price point in a market where supply meets demand, often driven by competition among firms and considered the equilibrium price.

Monopoly Power

The ability of a single supplier to control market prices and exclude competition in a particular market.

Natural Monopolies

Industries where a single firm can supply a product or service to an entire market at a lower cost than two or more firms.

Marginal Cost

The financial outlay for manufacturing an additional unit of a product or service.