Which of the Following Will Have the Likely Consequence of the Court

question 80

Multiple Choice

Which of the following will have the likely consequence of the court finding the contract void on the grounds of mistake?

• A) Mr. Twigg carelessly signed a mortgage for $24 000, which he was told was a mortgage for only $14 000. This was assigned to Mr. Jones.
• B) Mr. Ideer bought some property, erroneously thinking that the province was planning to put a highway nearby, even though the seller had never made any such suggestion.
• C) The parties signed a document that stated the consideration as $1200 instead of the $1100 that the buyer and seller had contracted for, but the buyer cannot prove the terms of the original contract.
• D) Mr. Ille, although using due care, signed a cheque for $100 in favour of his secretary, who had told him it was a receipt for money received.
• E) Mr. Jones, without reliance on a salesperson, purchased a palm organizer from a store, thinking it ran the regular Windows operating system.

---

Definitions:

Player B

In game theory, a participant in a strategic situation or game, distinguished from other participants by the label "B".

Sherman Antitrust Act

A landmark U.S. legislation passed in 1890 that prohibits monopolistic business practices and promotes competition.

Price Fix

A practice where businesses agree to set the price of a product or service at a certain level, often illegally, to avoid competition.

CEOs Collude

This term refers to illegal or unethical agreements between CEOs of different firms to make decisions that restrict competition, manipulate prices, or control market entry.