A Contract to Do Something That Is Prohibited by Federal

question 57

Multiple Choice

A contract to do something that is prohibited by federal or state statute is

• A) enforceable if the parties are aware of the prohibition.
• B) enforceable if the parties are ignorant of the prohibition.
• C) enforceable if the contract does not negatively affect society.
• D) unenforceable.

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Definitions:

Risk-Aversion Theory

A concept in economics and finance that explains individuals' or institutions' tendency to prefer outcomes with lower uncertainty and risk, impacting their decision-making processes.

Gestalt Theory

A psychological theory proposing that the human mind tends to perceive objects not by their individual parts but as whole systems.

Identity Negotiation

The process through which individuals reach agreements about each other's social identities during interactions, affecting relationships and social structures.

Consumer Traits

Characteristics or properties that consistently influence the way individuals select, purchase, and use goods and services.