James Is in an Art Gallery When Mitch,who Has No

question 71

Multiple Choice

James is in an art gallery when Mitch,who has no special art expertise,points to a painting and says,"That artist is so good.That piece will be worth a fortune in a few years!" James buys the painting,which does not turn out to be valuable.James tries to return the painting and recover his purchase price.A court will

• A)order the art gallery to pay James the full purchase price.
• B)orderMitch to pay James the full purchase price.
• C)enforce the contract between James and the art gallery.
• D)enforce the contract between James and the art gallery,but order Mitch to pay James the full purchase price.

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Definitions:

Wage Increase

An upward adjustment in the compensation that workers receive for their labor, typically as a result of negotiations, economic conditions, or to match inflation rates.

Unionized Bottling Plant

A unionized bottling plant refers to a bottling facility where the workers are represented by a labor union, often influencing wages, working conditions, and negotiations.

Employment Of Labor

The engagement of individuals to perform tasks for wages or salary in various sectors and industries within an economy.

Input Markets

Markets where factors of production (such as labor, materials, and capital) are bought and sold.