Which of the Following Is True Regarding Willy's Rights in Regards

question 25

Multiple Choice

Which of the following is true regarding Willy's rights in regards to the car purchase?

• A) He will not be able to rescind the contract because Weaver made no affirmative statements.
• B) He will not be able to rescind the contract unless he can prove that he expressly asked Weaver if the mileage was run backwards on the car, and Weaver failed to reveal that the odometer had been altered.
• C) He will not be able to rescind the contract because the mileage alteration did not affect the engine of the car.
• D) He will be able to rescind the contract because of duress practiced by Weaver.
• E) He will be able to rescind the contract because of the fraudulent misrepresentation on the part of Weaver.

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Definitions:

Maximizing Utility

The economic principle wherein individuals or firms seek to get the greatest satisfaction or return from their resources and choices, under the constraints they face.

Utility

A concept in economics that refers to the total satisfaction received from consuming a good or service.

X and Y

Often used in economic models to represent variables, products, or factors that can influence outcomes in analyses.

Consuming

The act of using up goods and services to satisfy wants or needs.