Which of the Following Is Not a Requirement That Must

question 14

Multiple Choice

Which of the following is not a requirement that must be satisfied before a court will imply a (non-statutory) term into a contract?

• A)The term is reasonable and fair.
• B)The term is necessary to make the contract viable.
• C)The term is so obvious it goes without saying.
• D)The term is in writing.

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Definitions:

Utility

A term in economics that refers to the total satisfaction received from consuming a good or service.

Satisfaction

The fulfillment of one's wishes, expectations, or needs, or the pleasure derived from this fulfillment.

Consumer

A person or collective who buys products or services for their own consumption.

Diminishing Marginal Utility

The principle that as a person consumes more of a product, there is a decline in the additional satisfaction or utility that person derives from consuming one more unit of the product.