Which of the Following Would Be the Most Likely Result

question 43

Multiple Choice

Which of the following would be the most likely result if Weaver attempts to rescind the agreement to rent the apartment?

• A) He will be able to rescind the agreement based upon Willy's threat of extortion.
• B) He will be able to rescind the agreement based upon the threat to Willy's economic interests.
• C) He will be able to rescind the contract because of undue influence.
• D) He will not be able to rescind the contract because he agreed to it.
• E) He will not be able to rescind the agreement unless he can show that he was not actually convicted of the crime alleged.

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Definitions:

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit costs and opportunity costs, indicating the firm's financial performance beyond breaking even.

Market Price

The current price at which a good or service can be bought or sold in a marketplace, determined by the forces of supply and demand.

Economic Profits

Profits calculated by subtracting both explicit (direct payments) and implicit (opportunity) costs from total revenues.

Market Price

The ongoing selling or buying rate for an asset or service in a certain market.