Omar Asserts That a Deal He Entered into with Patty

question 14

Multiple Choice

Omar asserts that a deal he entered into with Patty to sponsor and host a motivational conference for independent sales representatives is an unenforce-able contract. Defenses to the enforcement of a contract include

• A)a desire not to perform.
• B)insufficient capital.
• C)preliminary indications of unsatisfactory results.
• D)the lack of a party's voluntary consent.

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Definitions:

Statute

Written laws passed by a legislative body at the federal or state level.

Passed By Legislature

A bill or proposed law that has been approved by both houses of a legislative body and is awaiting further action, such as executive approval, to become law.

Nash Equilibrium

Nash Equilibrium is a concept in game theory where each participant's strategy is optimal considering the strategies of other participants, implying no player has anything to gain by changing only their own strategy.

Prisoners' Dilemma

A scenario in game theory where two individuals acting in their own self-interest do not achieve the optimal outcome.