Which of the Following Is True If Tony Seeks to Rescind

question 22

Multiple Choice

Which of the following is true if Tony seeks to rescind the contract for the sale of the Mustang?

• A) Tony may rescind the contract on grounds of fraud.
• B) Tony may rescind the contract on grounds of misappropriation of name or likeness.
• C) Tony may rescind the contract on grounds of duress.
• D) Tony may rescind the contract on grounds of defamation.
• E) Tony may not rescind the contract because truth is involved.

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Definitions:

Excess Supply

Occurs when the quantity of a good or service offered by producers exceeds the quantity demanded by consumers at the current price.

Excess Supply

A situation where the quantity of a good or service offered for sale by producers exceeds the quantity demanded by consumers at the current price.

Quantity Supplied

The amount of a product that producers are willing and able to sell at a given price over a specified period of time.

Quantity Demanded

The amount of a product that consumers are willing and able to purchase at a given price at a specific time.