Jill Contracts to Purchase Kevin's Automobile Under the Belief That

question 60

Multiple Choice

Jill contracts to purchase Kevin's automobile under the belief that she can sell it at a profit to Linda, but after Jill has bought the car, she finds out that Linda isn't interested in buying it. Jill:

• A) cannot void the contract.
• B) can rescind the agreement.
• C) could rescind the agreement if she was mistaken in her estimate of the value of the auto.
• D) can sue Linda for detrimental reliance.

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Definitions:

Bad Lots

Refers to batches of goods or products that do not meet the quality standards set by the manufacturer or industry.

Good Lots

In quality control, this term refers to batches of products that meet the specified quality standards.

Control Limits

are statistical boundaries set in process control charts that signal when a process may be out of control and corrective action may be needed.

X-bar

A symbol representing the sample mean or average in statistical analyses.