Straitedge Toolmakers,Inc

question 38

Multiple Choice

Straitedge Toolmakers,Inc. ,contracts to sell its assets to Trulevel Hardware Corpo?ration.Before either party has performed,rescission of this con?tract requires

• A)a mutual agreement to rescind.
• B)an accord and satisfaction.
• C)a novation.
• D)commercial impracticability.

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Definitions:

False Representation

A misleading statement or action that deceives or is intended to deceive.

Material Fact

Any fact that, if known, could influence an individual's decision-making in a transaction, contract, or legal case.

Physical Duress

A situation where an individual is forced to act against their will or consent due to the threat of physical harm or actual physical force.

Improper Threats

Coercive statements or actions that are unethical, illegal, or otherwise inappropriate, especially to gain an advantage in a negotiation or transaction.