James Threatens to Hit Kenneth in the Head with a Baseball

question 28

Multiple Choice

James threatens to hit Kenneth in the head with a baseball bat unless Kenneth signs a contract agreeing to pay James $400 for his saw.Because of the threat, Kenneth signs the contract.

• A) This contract is voidable at Kenneth's option.
• B) James has committed physical duress against Kenneth.
• C) This is an example of economic duress.
• D) All of these.

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Definitions:

Interest Rates

The percentage at which interest is paid by borrowers for the use of money they borrow from a lender.

Credit Card Debt

Money owed due to spending through credit cards, characterized by high interest rates if not paid off promptly.

Loanable Funds

The resources available for borrowing, which consist of household savings and income that banks and other financial institutions can lend to borrowers.

Retirement Savings

Funds set aside during an individual's working years, intended to support them financially during retirement.