Duress Occurs When

question 8

Multiple Choice

Duress occurs when

• A)the enforcement of a contract results in unconscionability.
• B)an improper threat is made to force another party to enter into a contract.
• C)both parties contract based on the same factual error.
• D)a party gives notice of refusal to be bound by an agreement.

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Definitions:

Supply Least Elastic

Characterizes goods or services for which supply does not significantly change in response to price changes, often due to limitations in production capacity or availability of resources.

Supply Curve

is a graphical representation that shows the relationship between the price of a good or service and the quantity of that good or service that a supplier is willing and able to supply to the market.

Titleist Golf Balls

A brand of golf balls known for their performance and commonly used in professional golf.

Total Revenue

The total amount of money a company receives from its business activities, such as sales of goods and services, before any expenses are subtracted.