When the UCC Was Written, It Was Intended That an Unconscionable

question 29

Multiple Choice

When the UCC was written, it was intended that an unconscionable clause would apply only to:

• A) written contracts.
• B) leasing an apartment.
• C) the sale of goods.
• D) opening a checking account.

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Definitions:

Income Effect

The change in consumption resulting from a change in real income, typically due to a change in prices, that can increase or decrease purchasing power.

Affordable Consumption Options

Choices of goods and services that are within the financial reach of a consumer, considering their income and expenses.

Inferior Goods

Goods whose demand decreases when consumer income rises, opposite of normal goods.

Normal Goods

Goods for which demand increases as the income of consumers increases.