Guido and Hal Want to Rescind Their Contract Under Which

question 20

Multiple Choice

Guido and Hal want to rescind their contract under which Guido sold Hal a mountain bike for $100. To rescind the contract

• A) ​Guido must return the $100 and Hal must return the bike.
• B) ​Guido must return the $100 only.
• C) ​Hal must return the bike only.
• D) ​the parties can keep the "benefits" of their bargain.

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Definitions:

Biases

Cognitive shortcuts or predispositions that can influence decision-making processes and perceptions, often leading to irrational or unfair outcomes.

Smart People

Individuals who exhibit high levels of intelligence, creativity, and capacity for complex problem-solving.

Framing

The act of constructing or presenting a concept, issue, or situation in a specific way to influence perception.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, whereby inferences about other people and situations may be drawn in an illogical fashion.