Luis Contractually Agreed to Sell a Widget to Monica for $20

question 29

Multiple Choice

Luis contractually agreed to sell a widget to Monica for $20 000.Monica accepted delivery of the widget, but has paid only $13 000.Although neither party realized it when they created their contract, the widget is actually worth $23 000.A court will order Monica to pay Luis

• A)$10 000.
• B)$7000.
• C)$20 000.
• D)$13 000.
• E)$23 000.

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Definitions:

Reimbursement

Reimbursement is the process of compensating someone for out-of-pocket expenses they have incurred on behalf of the company or another person, often related to business or travel expenses.

Taxi Fares

Charges levied for the service of transporting individuals in a taxi, typically calculated based on distance, time, or a combination of both.

Payroll

The total amount of money that a company pays to its employees, including wages, salaries, bonuses, and deductions.

Ethical Behaviour

Acting in ways that are consistent with societal and professional standards of conduct, including honesty, fairness, and integrity.