Bob Signed an Agreement with Joe Under Which Bob Agreed

question 8

Multiple Choice

Bob signed an agreement with Joe under which Bob agreed to purchase all the hay that Joe grew during the coming growing season.This contract will be:

• A)unenforceable due to its vagueness.
• B)unenforceable due to the difficulty of devising an appropriate remedy for a breach.
• C)enforceable as long as both parties act in good faith and Bob doesn't suddenly demand more hay than what was reasonably estimated.
• D)No contract was formed as the quantity term was indefinite.

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Definitions:

Investment Expenses

Fees and other costs incurred in connection with the management and operation of investments.

Net Income

The amount of earnings a company or individual has after subtracting all expenses, taxes, and deductions from total revenue.

Depreciation

An accounting method of allocating the cost of a tangible or physical asset over its useful life, useful for reducing taxable income by recognizing the asset's expense over several years.

Rental Income

Income earned from leasing out property or space to tenants.