Albert Found a Stone in His Yard and Took It

question 59

Multiple Choice

Albert found a stone in his yard and took it to Bob, a jeweler, for evaluation. Bob wasn't sure as to the nature of the stone, but told Albert he thought it was a topaz. Bob then offered to buy the stone for $25 and Albert agreed. Later Albert found out the stone was an uncut diamond worth about $700. The sales contract:

• A) is a valid contract that should be enforced by the law, because neither party knew the exact nature of the stone at the time of the sale.
• B) can be voided based upon fraud in the execution.
• C) can be voided based upon fraudulent misrepresentation.
• D) can be voided based upon mistake as to the identity of the subject matter.

Understand the concept of social interest and its relevance in Adlerian psychology.

Understand diverse strategies to achieve time, quality, or cost reduction in organizations.

Recognize the benefits of hybrid supply structures in organizational design.

Comprehend the influence of organizational structure on supply processes, internal relationships, and systems.

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Definitions:

Expensive Brand

A brand perceived as high-cost due to its quality, exclusivity, or luxury status, often attracting a specific market segment.

Shopping Orientation

Refers to a consumer's general attitudes, behaviors, and intentions towards shopping, influenced by personal, social, and cultural factors.

Antecedent State

The psychological and physical condition of a consumer before entering a shopping or consumption situation, affecting their behavior.

Consumer Satisfaction

A measurement of how well a product or service meets or surpasses a customer's expectations.