On May 6,Robbie Entered into a Signed Contract with Ed,whereby

question 61

Multiple Choice

On May 6,Robbie entered into a signed contract with Ed,whereby Robbie was to sell Ed a painting having a fair market value of $350,000 for $130,000.Robbie believed the painting was worth only $130,000.Unknown to either party,the painting had been destroyed by fire on May 4.If Ed sues Robbie for breach of contract,Robbie's best defense is:

• A) risk of loss had passed to Ed.
• B) lack of adequate consideration.
• C) mutual mistake.
• D) unconscionability.

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Definitions:

Temporal Lobes

Structures in the cerebral cortex that are located just above the ears and are involved in hearing, language processing, and memory.

Declarative Memory

A type of long-term memory concerning the recall of factual information, such as events, words, and concepts.

Rehearsal

The cognitive process of repeatedly practicing or going over information to keep it in memory.

Long-Term Memory

A relatively permanent type of memory that stores huge amounts of information for a long time.