The Big Book Store Just Received a Shipment of 100

question 10

Multiple Choice

The Big Book Store just received a shipment of 100 copies of Contemporary Business Law: Principles and Cases at wholesale price.The store contacted the local university to see if it was interested in purchasing the book.The bookstore faxed an offer of $5,000.00 for the 100 books.Due to a poor quality fax transmission the last three zeros were not visible.Upon receiving the offer it appeared that the 100 books were on sale for $500.The university accepted the offer,received the books and deposited $500.00 in the store's bank account.Upon receiving its bank statement,the store realized the error and decided to take action against the university.Will it succeed?

• A)Yes,the inadequacy of the consideration would render the transaction unenforceable because the court could not adequately determine the store's consideration due to error.
• B)No,the store has lost on the deal because offer and acceptance both took place.
• C)Neither side would be held to the contract because it would be ruled invalid.It will be renegotiated and the store will pay a penalty for breach of contract.
• D)No,the store cannot take action,but none of the above statements are true.
• E)Yes,the store can take action,but none of the above statements are true.

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Definitions:

Behavioral Symptom

Observable actions or responses that indicate the presence of a psychological condition or disorder.

Depression

A disorder related to mental health, identified by a continual depressed state or a disengagement with interests, which considerably impairs everyday living.

Melancholic Depression

A subtype of major depressive disorder characterized by specific symptoms such as profound feelings of sadness, early morning awakening, and significant weight loss.

Anhedonia

A condition characterized by a diminished ability to experience pleasure or interest in activities that typically bring joy, often associated with depression and other mood disorders.