Which Is Not a Correct Statement Concerning Rescission of a Contract

question 30

Multiple Choice

Which is not a correct statement concerning rescission of a contract?

• A) The breach must be material.
• B) The injured party who rescinds may recover money paid under the contract.
• C) The contract remains in effect after the rescission.
• D) Rescission is the undoing of the contract.

Grasp the concept and significance of economic communities in global trade.

Analyze the advantages and disadvantages of standardization versus adaptation strategies in international markets.

Know the key environmental factors that influence consumer purchase ability and behavior.

Identify types of companies that experience countercyclical sales.

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Definitions:

Practice

The act of repeatedly performing or exercising an activity or skill so as to acquire or maintain proficiency in it.

Positive Reinforcement

The process of encouraging or establishing a pattern of behavior by offering reward when that behavior is exhibited.

Negative Reinforcement

A process in behavioral psychology where the removal of an unfavorable event or outcome after the display of a behavior increases the likelihood of the behavior being repeated in the future.

Positive Punishment

Adding an unfavorable outcome or event following an undesired behavior to decrease the likelihood of that behavior happening in the future.