Which of the Following Statements Accurately States the Law with Respect

question 51

Multiple Choice

Which of the following statements accurately states the law with respect to consumer transactions?

• A)Where the court decides that a transaction was unconscionable,that transaction is unenforceable by the buyer.
• B)Where a supplier engages in a deceptive or unconscionable act,he is neither subject to fines nor jail.
• C)In most provinces,legislation makes false or misleading statements in advertising or made by a salesperson an unfair business practice,but this is not actionable as a breach.
• D)In all consumer transactions,there is a cooling-off period of seven days in which the consumer can call off the deal.
• E)In most provinces,legislation makes false or misleading statements in advertising or made by a salesperson a term of the contract and,therefore,actionable as a breach.

---

Definitions:

Transfer Risk

The uncertainty associated with cross-border financial transactions, particularly the risk that a foreign debtor will default on its obligations due to external factors like currency restrictions.

Laissez-faire Capitalism

An economic philosophy advocating for minimal government intervention in the market.

Minimal Government Intervention

Minimal government intervention refers to an economic policy or philosophy where the government has a very limited role in the economy, allowing the market to operate with minimal regulatory influence.

Market System

An economic system where decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.