Diana and Charles Windsor Are Considering Purchasing a Swimming Pool

question 22

Multiple Choice

Diana and Charles Windsor are considering purchasing a swimming pool.The representatives of Fun-in-the-Sun Pool arrange a meeting at the Windsor's home to discuss the price and draw up plans.The Windsors sign a contract for the pool for a price of $12,000 with payments of $3000 each month for the next four months while the pool is under construction.The Windsors also agree to pay a carrying charge for the payments of $250.00.Two days after signing the contract,the backhoe operator arrives ready to dig the pool,but Charles tells him the contract is off.The Windsors:

• A)have breached their contract and will be liable to Fun-in-the-Sun for damages.
• B)are protected by their three-day rescission rights under Regulation Z.
• C)do not have the three-day rescission rights since there are no monthly installment payments over a period of one year.
• D)none of the above

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Definitions:

TOTE Model

A cognitive model that stands for Test-Operate-Test-Exit, describing a process of problem-solving that involves testing a situation, operating to change it, testing the change, and exiting if the outcome is satisfactory.

Motivations

The reasons or forces that drive an individual to engage in particular behaviors or actions.

Autonomy

The right or condition of self-governance, or the ability of an individual to make their own choices and decisions.

Capacity

The maximum amount that something can contain or produce.