Which of the Following Should Be the Result in Regard

question 35

Multiple Choice

Which of the following should be the result in regard to Penny's obligation to Credit Card Company B?

• A) That the company is not bound by its promise because the debt was liquidated.
• B) That because Penny offered and the company accepted a different performance in discharge of the obligation, the company is bound.
• C) That because the car is worth only $1,000, nowhere near the amount of the debt, the company is released from its promise.
• D) That under equitable principles, upon disaffirming the agreement, Penny may keep the car, and the company must take a deduction of 50% on all amounts due.
• E) That under equitable principles, upon disaffirming the agreement, Penny must transfer the car to the company, and the company must take a deduction of 50% on all amounts due after sums received from the sale of the car are credited to Penny's account.

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Definitions:

Passing-Off

A legal misrepresentation where one entity falsely markets its goods or services as those of another, leading to consumer confusion.

Counterfeit Gucci Watches

Imitation watches made to look like genuine Gucci products, but without the authorization of the Gucci company.

Genuine Imitation

An oxymoronic phrase often used sarcastically to describe a product that pretends to be something it is not.

Rear-Ended

A type of vehicular accident where one vehicle crashes into the back of another.