Linda Linmeirs Is Considering the Purchase of a New Fax

question 123

Multiple Choice

Linda Linmeirs is considering the purchase of a new fax machine for her real estate office.She is considering a machine that does not have as many functions as her current machine but is available at a considerably lower price.She is engaged in __________ analysis.

• A)vendor
• B)downsizing
• C)strategic
• D)value
• E)profit

Evaluate the importance of conditions precedent, subsequent, and concurrent in determining contractual obligations.

Understand the historical context and evolution of commercial law, including the incorporation of the law merchant into national legal documents.

Recognize the basic principles and elements involved in forming, enforcing, and interpreting contracts.

Differentiate between various types of contracts (bilateral, unilateral, express, implied-in-fact, and quasi-contracts).

---

Definitions:

Disaffirm

The legal act of denying, rejecting, or declaring a contract or agreement void, especially in cases involving minors or fraud.

Age of Adulthood

The legally recognized age at which an individual is considered an adult and responsible for his/her actions under the law.

Forbearance

The act of refraining from doing (or promising not to do) something that a person has a legal right to do.

Legally Sufficient Consideration

Value legally recognized by the courts, required for a contract to be enforceable, involving a promise, act, or forbearance.