The Case of Steinberg V Scala (Leeds)Ltd [1923] 2 Ch

question 33

Multiple Choice

The case of Steinberg v Scala (Leeds) Ltd [1923] 2 Ch 452 is an example of the principle that:

• A)money paid under a voidable contract is not recoverable unless there has been a total failure of consideration.
• B)if no price has been agreed a minor is obliged only to pay a reasonable price.
• C)a minor must repudiate a contract within a reasonable time after becoming an adult.
• D)none of the above.

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Definitions:

Transportation Costs

Expenses associated with moving goods or individuals from one location to another, including fuel, labor, and vehicle maintenance.

Promotional Allowance

A discount or financial incentive provided to retailers or wholesalers to encourage the promotion and sale of a product.

Gross Margin

The difference between revenue and cost of goods sold (COGS), expressed as a percentage of revenue, indicating the financial health and efficiency of a company's production process.

Price Special Promotion

Refers to temporary measures undertaken by a business to reduce prices or offer discounts to boost sales of products or services.