Figure 4-26 
-Refer to Figure 4-26.Which of the following movements would illustrate the effect in the market for fences of a decrease in the price of wood?
Definitions:
Rejected Offer
A proposal that has not been accepted by the party to whom it was extended.
Legal Obligation
A duty enforced by law, requiring an individual or entity to conform to certain actions or to refrain from certain acts.
Unilateral Mistake
A situation in contract law where only one party is mistaken about a material fact regarding the contract terms or subject matter.
Rescission
The legal act of canceling or terminating a contract, returning all parties involved to their original positions before the contract was made.
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