A Contract Will Be Void Due to 'Unconscionable Conduct' Where

question 29

Multiple Choice

A contract will be void due to 'unconscionable conduct' where:

• A)One party has unfairly taken advantage of a special weakness or disadvantage of the other party.
• B)One party has used their own special weakness to gain an unfair advantage.
• C)One party has a special weakness or disadvantage although the stronger party is unaware of that weakness or disadvantage.
• D)One of the parties has a special weakness or disadvantage although there is no evidence that the other party has used it to derive an unfair benefit.

---

Definitions:

Purely Competitive

A market structure characterized by many buyers and sellers, where each seller is a price taker and homogeneous products are offered.

Market

An economic system that allows buyers and sellers to exchange goods and services, determining prices through the laws of supply and demand.

Deadweight Loss

signifies a loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Purely Competitive

A purely competitive market is one in which there are many buyers and sellers, all trading homogeneous products, with no single entity able to control the market price.