In Works V

question 149

Multiple Choice

In Works v. Works, what was the result where one party was mistaken about something significant in the contract?

• A) The Court will exercise its discretion to set aside the contract only if satisfied that it would be unfair or unjust to enforce it.
• B) The Court will automatically set aside the contract on the basis of the doctrine of mistake.
• C) The Court will only set aside the contract if the mistake renders the contract illegal.
• D) The Court will never set aside a contract where a mistake has been made.
• E) The Court will exercise its discretion to set aside the contract only if satisfied the mistake was the result of willful blindness.

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Definitions:

Midpoint Formula

A method used in geometry and economics to find the midpoint or the average of two points on a line segment.

Consumer Expenditure

The total amount spent by consumers on goods and services in a given period.

Total Revenue

The overall amount of money generated from the sale of goods and services before any expenses are subtracted.

Inelastic

Describes a situation where the quantity demanded or supplied changes by a smaller percentage than the percentage change in price.