In Johnson V

question 68

Multiple Choice

In Johnson v.Bank of America,N.A. ,the case in the text,the court held that:

• A)the contractual duty was delegable because it did not materially change the benefit of the bargain and Johnson did not have any interest in Bank of America performing the contract.
• B)the contractual duty was delegable because delegations in the trade were common.
• C)the contractual duty was not delegable because Fiserv had an improper financial motive.
• D)the contractual duty was not delegable because it was prohibited by statute.

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Definitions:

Interest Rates

The percentage at which interest is paid by a borrower for the use of money they borrow from a lender, indicative of the cost of borrowing.

Aggregate Demand

The overall demand for all the goods and services in an economy, reflecting the economic activity and consumer spending power.

Keynes's Followers

Individuals or economists who support or develop the theories of John Maynard Keynes, relating to government intervention in the economy to manage aggregate demand.

Monetary Policy

Actions of a central bank, currency board, or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates.