A Contract for a Sale of Land from Evergreen Properties,Inc

question 30

Multiple Choice

A contract for a sale of land from Evergreen Properties,Inc. ,to Longlife Investment Corporation contains an erroneous legal description.The most appropriate remedy for these parties is

• A)damages.
• B)reformation.
• C)rescission.
• D)specific performance.

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Definitions:

Long-run Average Total Cost

The per unit cost of production when all inputs, including both fixed and variable costs, are adjusted to their optimal levels over time.

Automobile Manufacturing

The industry and process involved in designing, producing, marketing, and selling motor vehicles.

Ford Motor Company

An American multinational automaker founded by Henry Ford, known for revolutionizing the automobile industry.

Constant Returns to Scale

A condition where increasing all inputs by the same proportion results in an increase in output by that same proportion.