The Common Law Doctrine of Unconscionability in Contract Law Can

question 152

True/False

The common law doctrine of unconscionability in contract law can also be applied to consumer situations.

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Definitions:

Net Income

The earnings left for a firm after deducting expenses, taxes, and all other costs from the total income.

Fair Market Value

The price at which an asset would sell in a competitive auction setting, representing the value between a willing buyer and seller with neither being under any compulsion to buy or sell.

Stockholders' Equity

The portion of a company's assets that belongs to shareholders after debts and liabilities have been settled.