Even If a Party Has the Power to Avoid a Contract

question 47

True/False

Even if a party has the power to avoid a contract for lack of capacity,duress,or undue influence,the party will lose that power by affirming the contract.

---

Definitions:

Profit-Maximizing Price

The price level at which a firm maximizes its profits, typically found where marginal cost equals marginal revenue.

Panel

A group of people gathered to discuss, analyze, or judge a particular topic or issue, often in the context of a conference or public debate.

Economic Profit

The total revenue minus the opportunity costs of all inputs, a measure that considers both explicit and implicit costs.

Profit-Maximizing Price

The price level at which a company can make the highest profit, balancing between sales volume and profit margin.