A Person Who Is Unable to Read Is Bound by Signing

question 38

Multiple Choice

A person who is unable to read is bound by signing a contract without obtaining an explanation of it, unless:

• A) the other contracting party later becomes aware of the signer's inability to read.
• B) the other party is similarly lacking in education.
• C) the other contracting party knows of the signer's disability.
• D) none of the above; an illiterate person is always bound by a contract he or she chooses to sign without obtaining an explanation.

---

Definitions:

Total Utility

The total satisfaction or benefit obtained from consuming a particular quantity of goods or services.

Marginal Utility

Describes the additional satisfaction or usefulness obtained from consuming one more unit of a product or service.

Total Utility

The complete fulfillment experienced from the consumption of a specific overall amount of a product or service.

Consumer Surplus

The gap between what consumers are prepared and able to spend on a product or service and the actual sum they end up paying.