Under Which of the Following Circumstances Would a Court Be

question 28

Multiple Choice

Under which of the following circumstances would a court be unlikely to enforce the illegal contract?

• A)Where the aggrieved party was unaware of an illegality created by circumstances of which he was unaware but the agreement appeared permissible on its face.
• B)Where a party withdraws from an illegal agreement prior to performance.
• C)Where the agreement is with an unlicensed attorney.
• D)Where one of the parties is less at fault than the other.

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Definitions:

Marginal Revenue

Marginal revenue is the additional income generated from selling one more unit of a good or service, critical for determining the optimal level of output for profit maximization.

Marginal Cost

The incremental cost of producing an additional unit of a good or service.

Marginal Revenue

The additional revenue gained from selling one more unit of a product or service.

Downward-Sloping Demand

Describes a market phenomenon where a product's demand decreases as its price increases, according to the law of demand.