A Contract That Is Deemed to Be Too Harsh or Oppressive

question 17

Multiple Choice

A contract that is deemed to be too harsh or oppressive to one of the contracting parties may be unenforceable under the concept of:

• A) unilateral influence.
• B) bilateral influence.
• C) unconscionability.
• D) conscionability.

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Definitions:

Generally Accepted Accounting Principles

A set of accounting standards and practices that are widely accepted and used in the U.S. for financial reporting and accounting.

Controllable Cost

Costs that can be influenced or managed by a decision-maker within a certain period.

Managerial Responsibility

The obligation of managers to make decisions, supervise subordinates, and implement activities that contribute to achieving the organization's objectives.

Variable Cost

Costs that vary directly with the level of production or output, such as materials and labor used in the production process.