In Which of the Following Situations Would You Have to Pay

question 43

Multiple Choice

In which of the following situations would you have to pay additional money when returning a vehicle using an open-end lease?

• A) When the residual value is less than expected
• B) When the residual value is more than expected
• C) mileage limits are not exceeded
• D) a and c
• E) b and c

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Definitions:

Mistakes

Errors or misunderstandings that can occur in various contexts, such as in contracts, decisions, or actions.

Untrue Statements

Assertions or claims that are not accurate or correct, often made with the intent to deceive.

Mutual Mistake

A legal concept where all parties involved have a mistaken understanding regarding a basic assumption on which a contract is based, potentially making the contract voidable.

Basic Assumption

A fundamental, often implicit, belief that shapes the framework of individual or collective reasoning and actions.