The Main Issue in CASE 2

question 16

Multiple Choice

The main issue in CASE 2.1 Meinhard v.Salmon (1928) was whether:

• A) the parties equitably adhered to the proper morals of the marketplace.
• B) Salmon purposely sought to defraud Meinhard.
• C) a relationship of trust with fiduciary-like obligations was created under the parties' joint venture.
• D) a buyer's unsavory reputation must be disclosed to a seller.

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Definitions:

Lemonade

A sweetened beverage made from lemon juice, water, and sugar, often served cold.

Pizzas

A savory dish of Italian origin, consisting of a round, flattened base of leavened wheat-based dough topped with tomatoes, cheese, and often various other ingredients, baked at a high temperature, traditionally in a wood-fired oven.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods, given a set of inputs.

Peanuts

Edible seeds enclosed in thin shells, grown extensively for food and oil, and known both for their nutritional value and allergenic properties.