Gladys Enters into a Contract with Hydraulic Fracturing,Inc

question 3

Multiple Choice

Gladys enters into a contract with Hydraulic Fracturing,Inc.,for a sale of the oil beneath Gladys's land for a fraction of the value of the oil and the cost to restore the land after the oil is extracted.A court is most likely to determine that this deal is unfair under

• A)the concept of unconscionability.
• B)the doctrine of promissory estoppel.
• C)the principle of freedom of contract.
• D)the Statute of Frauds.

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Definitions:

Too Many Rivals

A market situation where there are too many competitors, often leading to reduced prices and profit margins.

Patent Protection

Legal rights granted to inventors to exclusively produce, use, or sell their invention for a certain period of time.

Market Approval

The official authorization for a product to be sold in a specific market, often referring to regulatory approval for pharmaceuticals or medical devices.

Substitute Products

Goods or services that serve as alternatives to others, offering consumers options when making purchase decisions.