James and Kay Enter into a Contract for the Sale

question 56

Multiple Choice

James and Kay enter into a contract for the sale of a bicycle,but Kay later refuses to deliver the goods. James asks a court to order Kay to perform as promised. Ordering a party to perform what was promised is

• A)an equitable remedy.
• B)an unenforceable demand.
• C)an action.
• D)beyond the court's authority.

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Definitions:

Designated Expenditures

Expenses that are specifically earmarked or allocated for a particular purpose or project.

Public Choice Economists

Economists who apply economic theories and methodologies to the analysis of political behavior, focusing on the self-interested actions of voters, politicians, and bureaucrats.

Keynesian Economists

Economists who follow the principles of John Maynard Keynes, emphasizing the need for government intervention to manage economic cycles and maintain full employment.

Economics

The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.