When a Contract Is Legal at Its Creation but Subsequently

question 12

Multiple Choice

When a contract is legal at its creation but subsequently becomes illegal:

• A)remedies are never available to the guilty party.
• B)remedies are available to the guilty party as long as the innocent party receives their remedies first.
• C)remedies are sometimes available to the guilty party.
• D)remedies are always available to the guilty party.

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Definitions:

Large Part

A phrase indicating a significant portion or majority of a whole.

Elastic Demand

A situation where the quantity demanded of a product changes significantly in response to a change in price.

Substitutes

Products or services that can be used in place of each other; an increase in the price of one leads to an increase in demand for the other.

Available

Referring to resources or goods that are obtainable and can be utilized.