Vernon Claims That His Contract with Ulani Is Voidable

question 12

Multiple Choice

Vernon claims that his contract with Ulani is voidable.If their contract is avoided

• A)both parties are released from it.
• B)both parties must fully perform their obligations under it.
• C)a wholly different contract is agreed to.
• D)a wholly different contract is imposed "as if" the parties had agreed.

---

Definitions:

Periodic Inventory System

An accounting method that updates inventory balance and cost of goods sold at the end of an accounting period.

Computerized Optical Scanning Equipment

Technology devices used for electronically converting images of text, handwriting, or printed documents into machine-encoded text or images.

Perpetual Systems

Inventory management systems that continuously update the record of inventory levels with each sale or purchase, providing real-time information.

Inventory Purchases

Transactions made by a business to acquire goods intended for sale during the normal course of operations.