Guido and Hal Want to Rescind Their Contract Under Which

question 20

Multiple Choice

Guido and Hal want to rescind their contract under which Guido sold Hal a mountain bike for $100. To rescind the contract

• A) ​Guido must return the $100 and Hal must return the bike.
• B) ​Guido must return the $100 only.
• C) ​Hal must return the bike only.
• D) ​the parties can keep the "benefits" of their bargain.

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Definitions:

Contractual Obligations

are responsibilities or duties that are legally binding and arise from agreements or contracts entered into by parties.

Implied Condition

A condition that is not specifically and explicitly stated but is inferred from the nature and language of the contract.

Completion

The finalization or conclusion of a project, contract, or process, marking the end of work and the beginning of the operational period.

Bedroom

A room within a dwelling intended for sleeping or resting, typically containing a bed and storage furniture.