Your Local Video Store Charges $39

question 90

True/False

Your local video store charges $39.99 instead of $40.00 for a video game. This store is using a strategy known as penny-less pricing.

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Definitions:

Non Est Factum

A plea asserting that an agreement is void because the signer was unaware of its essence due to deception or misunderstanding.

Illegality of Object

Refers to a principle in contract law that prohibits the enforcement of agreements that involve an illegal purpose or object.

Rescission

The legal act of cancelling or annulling a contract, returning all involved parties to their state prior to the contract's formation.

Statutory Assignment

The transfer of rights or benefits from one party to another in accordance with statutory provisions.