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

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Definitions:

Debit Balance

An accounting term referring to the remaining balance in an account when total debits exceed total credits.

Issue Price

The price at which new shares are offered to the public by a corporation during its initial public offering or subsequent issuances.

Premium

The amount paid for an insurance policy, or the difference between the higher price paid for a bond above its face value.

Discount

A reduction applied to the regular price of goods or services, often to encourage sales.