If Edmund and Kaylin Have a Writing Mistakenly Showing a Sale

question 6

Multiple Choice

If Edmund and Kaylin have a writing mistakenly showing a sale and purchase of goods for $10,000 when the price should have been $1,000,a court will most likely

• A)enforce the agreement,relying on oral testimony to determine the correct price.
• B)only enforce the agreement as written.
• C)not hear the case unless both parties are merchants.
• D)not enforce the agreement since the writing did not reflect a meeting of the minds of the parties.

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Definitions:

Relationship-Specific Investments

See Specific investments.

Organizational

Pertaining to the structure and function of an organization, including its processes, policies, and personnel management.

Contractual Forms

denotes the various arrangements and agreements under which businesses and individuals engage in transactions, outlining the terms and conditions of their exchanges.

Average Variable Cost

The total variable cost divided by the quantity of output produced, representing the variable cost per unit of output.