If a State Made a Previously-Illegal Activity,such as Gambling or Prostitution,legal,then,other

question 48

Multiple Choice

If a state made a previously-illegal activity,such as gambling or prostitution,legal,then,other things equal,GDP

• A)decreases.
• B)increases.
• C)doesn't change because both legal and illegal production are included in GDP.
• D)doesn't change because these activities are never included in GDP.

Recognize the legal remedies available for unconscionability in contracts.

Understand the distinctions between full, limited, express, and implied warranties.

Distinguish between shipment and destination contracts and their obligations.

Understand the role of tender of delivery and payment in fulfilling sales contracts.

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Definitions:

Unanimous Agreement

An agreement or decision made with the approval of all parties involved, indicating total consensus without any dissent.

Disclosure

The act of making new or significant information known, particularly in legal and corporate contexts, where transparency is required by law or policy.

Principal

The main party to a transaction, obligation, or financial instrument, in contrast to an agent or intermediary.

Third Party

An individual or group besides the two primarily involved in a transaction or legal case.