On March 1, Joe Contractually Agreed to Purchase an Antique

question 61

Multiple Choice

On March 1, Joe contractually agreed to purchase an antique family heirloom from his third cousin, Maureen, for $40 000. Joe paid half of that price immediately and promised to pay the other half upon delivery. Maureen promised to deliver the heirloom on May 1. On April 1, another member of the family discovered that the heirloom had not belonged to a famous ancestor, as everyone had believed, but rather to that person's half- brother. The market value of the heirloom consequently dropped to $10 000. Maureen nevertheless refuses to deliver it as promised. Joe is entitled to

• A) restitution of $20 000.
• B) expectation damages of $30 000.
• C) reliance damages of $20 000.
• D) expectation damages of $40 000.
• E) expectation damages of $10 000.

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Definitions:

Corporate Social Responsibility

A business model where companies integrate social and environmental concerns in their operations and interactions with their stakeholders.

Downsizing Strategy

A corporate strategy involving the reduction of a company's workforce to improve its financial performance or efficiency.

Revenue-based Rationales

Justifications or reasons for business decisions that are primarily focused on increasing or affecting revenue streams.

Downsizing Decisions

The process of determining when and how to reduce the workforce to improve organizational efficiency or reduce costs.