Isabel and Josh Engage in a Business Transaction That Leads

question 20

Multiple Choice

Isabel and Josh engage in a business transaction that leads to a dispute. Isabel initiates a lawsuit against Josh by filing a complaint. The sheriff serves Josh with a summons. If Josh chooses to ignore it,

• A) Isabel must file an amended complaint.
• B) Isabel will have a default judgment entered in her favor.
• C) Josh must be served with a second summons.
• D) Josh will have a default judgment entered in his favor.

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Definitions:

Income

This is the financial gain (money) earned by an individual or entity, usually over a period of time, through work, investments, or business ventures.

Demand

The total amount of a good or service that consumers are willing and able to purchase at various prices during a specified period.

Complementary Goods

Products or services that are used together, where the use of one increases the value of the other.

Substitute Products

Goods or services that can be used in place of each other; when the price of one increases, demand for the substitute is likely to increase.