A Person Who Rescinds a Contract Must

question 3

Multiple Choice

A person who rescinds a contract must:

• A)offer to return everything that he received from the other party.
• B)return 50% of the items that he received from the other party.
• C)return everything that he received from the other party.
• D)return nothing.

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Definitions:

Government Intervention

Actions taken by the government to influence economic activity and market outcomes, such as regulation, subsidies, and taxation.

Monetarists

Economists who believe that the variations in the money supply have major influences on national output in the short run and the price level over longer periods.

Money Supply

The total monetary resources accessible in an economy, including but not limited to cash, coins, and the balances held in checking and savings accounts, at a particular moment.

Reason and Good Sense

The ability to think about things logically and make judgments that are based on reason rather than emotion.