Andrew's Restaurant Was Experiencing Financial Problems

question 57

Multiple Choice

Andrew's restaurant was experiencing financial problems. His sales were down and he needed help. Andrew requires $20,000 to cover outstanding accounts within three days or face closing the restaurant. His bank refused to increase his line of credit so Andrew went to his accountant for suggestions. The accountant told him he could lend Andrew $20,000 but only if Andrew signed over a 50% interest in the business. In desperation, Andrew agreed. If Andrew wants to have the agreement set aside, which of the following would he rely on?

• A)Duress.
• B)Mistake
• C)Misrepresentation
• D)Non est factum
• E)Restitution

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Definitions:

Effective Decision Maker

An individual who is capable of making choices that lead to the best possible outcomes for an organization.

Confucius

An ancient Chinese philosopher and educator whose teachings, focused on morality, family loyalty, and respect for elders, have had a lasting impact on East Asian thought and culture.