The Remedy of Quasi-Contract Generally Applies Only When

question 9

Multiple Choice

The remedy of quasi-contract generally applies only when

• A) there are more than three parties in a contractual agreement.
• B) no actual contract exists to cover the dispute.
• C) the contract is bilateral in nature.
• D) no more than two parties expressly discuss the terms of their agreement.
• E) implied warranties are included in a contract.

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Definitions:

Factor of Production

An input used in the production of goods or services, such as land, labor, capital, and entrepreneurship.

Earnings

Earnings refer to the amount of money that an individual or business makes before any deductions are taken.

Restaurants' Demand

The total desire or willingness to purchase meals and services offered by restaurants at various price points.

Profit-maximizing

The process or strategy of adjusting production and prices to achieve the highest possible profit.