Which of the Following Is True If a Contract Is

question 42

Multiple Choice

Which of the following is true if a contract is disaffirmed on the basis of intoxication?

• A) Each party to the contract must return the other to the condition he or she was in at the time the contract was entered into.
• B) The intoxicated person must be returned to the condition he or she was in at the time the contract was entered into, but that is not true for any other party.
• C) Any party other than the intoxicated person must be returned to the condition he or she was in at the time the contract was entered into.
• D) So long as the contract was objectively fair, neither party must be returned to the condition he or she was in prior to the time the contract was entered into.
• E) So long as the contract was subjectively fair in the opinion of the intoxicated party, neither party must be returned to the condition he or she was in prior to the time the contract was entered into.

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Definitions:

Standard Error

A measure of the statistical accuracy of an estimate, calculated as the standard deviation of the sampling distribution of a statistic.

Probability Distribution

A function that describes the likelihood of different outcomes in an experiment.

Sample Mean

The average value of all the measurements in a sample, calculated by adding all the values and dividing by the number of observations.

Probability Density Function

A function used to compute probabilities for a continuous random variable. The area under the graph of a probability density function over an interval represents probability.