Which of the Following Terms Would Be Considered Material Terms

question 32

Multiple Choice

Which of the following terms would be considered material terms?

• A) Subject matter, but not price, quantity, quality or parties
• B) Price and subject matter, but not quantity, quality or parties
• C) Quantity, quality, and subject matter, but not price or parties
• D) Subject matter, quality, and price, but not quantity or parties
• E) Subject matter, price, parties, quality, and quantity

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Definitions:

False Pretenses

The act of misrepresenting a fact or situation to deceive or manipulate another person, often to secure unlawful gain.

Objective Fault

A legal standard that determines liability based on failure to meet an objective level of care, regardless of the defendant's intent or knowledge.

Vicarious Liability

A legal principle holding a party responsible for the actions of another, typically applied when an employer is held liable for the actions of an employee.

Corporate Liability

The legal concept that a corporation can be held responsible for the actions of its employees or agents, subject to laws and regulations governing corporate conduct.