Keith Offers to Sell Nat His 20-Year Old Car for $3000

question 59

Multiple Choice

Keith offers to sell Nat his 20-year old car for $3000 and Nat accepts the offer.The next day, Keith finds out that his car is actually worth $5000.Which of the following is the best answer?

• A)Keith can seek to claim the correct value of the car from Nat.
• B)Keith can terminate the contract for common mistake and find a new buyer.
• C)Keith can refuse to perform the contract due to lack of adequate consideration.
• D)Keith must perform the contract.

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Definitions:

Hazards

Potential sources of harm or adverse health effect on a person or persons.

Alcohol

A psychoactive substance found in beverages such as beer, wine, and spirits, known for its intoxicating effects.

Benefits

Advantages or positive effects that occur as a result of a specific action, treatment, or policy.

Social Learning Model

A theory that suggests individuals learn new behaviors through observing and imitating others, alongside reinforcements and punishments.