Marcus Is Trying to Persuade His Managers to Give an Extra

question 37

Multiple Choice

Marcus is trying to persuade his managers to give an extra day off for Thanksgiving break by reminding them that they want employees to be happy, and that holiday breaks make employees happy. This type of persuasion is

• A) inductive reasoning.
• B) deductive reasoning.
• C) cognitive dissonance.
• D) causal reasoning.

Identify and explain duress in the context of entering contracts.

Differentiate between mistakes, puffery, and fraud in contract law.

Assess the legal remedies available for victims of fraudulent misrepresentations, undue influence, and duress.

Apply knowledge of contract law to analyze and assess the validity of contracts influenced by misrepresentation, undue influence, or duress.

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Definitions:

C Corporations

A legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.

Unlimited Life

Refers to corporations or legal entities that continue to exist indefinitely until dissolution, unlike natural persons who have a finite lifespan.

Double Taxation

The imposition of taxes on the same income, asset, or financial transaction at two different levels of government.

Accounting

A systematic process of recording, summarizing, and reporting the financial transactions of a business.