In Which of the Following Would the Court Find That

question 32

Multiple Choice

In which of the following would the court find that the contract is void (i.e.,not a binding agreement) ?

• A)Two parties contracted for a tanker of oil,but unknown to either of them at the time of the contract,the tanker had caught on fire and all the oil had burnt.
• B)Kramer,thinking that the city was going to build a new school in the area,offered to buy a house.She had not talked with the seller or his agent about the possibility of a school.After the offer was accepted,she learned that there would be no such new school.
• C)Ry and Ali,two parties to a contract,each had a different understanding about the term royalties in the contract.The court found Ali's interpretation the more reasonable.
• D)After some negotiation,Paul accepted Monafo's offer to sell him the painting for $5000.When the contract was put in writing,the price was incorrectly stated as $500.Monafo could prove the terms of the oral contract.
• E)Joe bought pizzas,but after eating one he realized that purchasing them was a big mistake.

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Definitions:

Global Flow

Refers to the movement of goods, services, information, and people across international borders, facilitating global interconnectedness and interdependence.

Neoliberalism

An economic and political ideology that emphasizes free-market capitalism, deregulation, and reduction in government spending to enhance the role of the private sector in the economy and society.

State Oversight

The monitoring and regulation of activities by the government to ensure compliance with laws and policies.

Economic Goals

Objectives that societies or individuals aim to achieve in order to improve economic well-being, such as growth, efficiency, equity, and security.