Kelly Sells 76 Shares of Stock She Owns for a Total

question 9

Multiple Choice

Kelly sells 76 shares of stock she owns for a total of $495. If the stock was in two different companies, one selling at $5.50 a share and the other at $7.25 a share, how many of each did she sell?

• A) 29 at $5.50 and 47 at $7.25
• B) 36 at $5.50 and 40 at $7.25
• C) 28 at $5.50 and 48 at $7.25
• D) 35 at $5.50 and 41 at $7.25
• E) 32 at $5.50 and 44 at $7.25

Identify different types of misrepresentation and their impact on contract validity.

Examine the legal and ethical considerations in scenarios involving undue influence, duress, and economic pressures.

Understand the conditions under which contracts can be rescinded due to mistakes, fraud, or duress.

Differentiate between innocent and fraudulent misrepresentation and their respective remedies.

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Definitions:

Market Rate

The prevailing price or interest rate for goods, services, or securities in a competitive marketplace.

User Cost

The cost of using a good or service, which includes the opportunity cost of not using the asset in an alternative use.

Opportunity Cost

The cost of choosing one option over another, typically represented by the benefits that could have been gained by choosing the alternative.

Depletable Resource

A natural resource that can be diminished or exhausted by use, such as fossil fuels, minerals, or forests.