In Scheerer V

question 543

Multiple Choice

In Scheerer v. Fisher where Scheerer, a real estate agent, sued Fisher for failing to pay Scheerer for his services in locating property for Fisher, the appeals court held that:

• A) Scheerer had a case for quantum meruit recovery
• B) Scheerer did not have a case for quantum meruit recovery
• C) Scheerer had a case for special performance
• D) Scheerer did not have a case for just compensation
• E) none of the other choices are correct

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Definitions:

Marginal Utility

The further benefit or pleasure derived by consuming an extra unit of a good or service.

Utils

A theoretical unit of measurement used in economics to quantify the level of satisfaction or happiness that a consumer derives from the consumption of goods and services.

Rational

Describes a decision maker who chooses the available option that leads to the outcome he or she most prefers.

Diminishing Marginal Utility

The principle stating that as a person consumes more units of a good, the satisfaction (utility) gained from consuming each additional unit decreases.