Choose the single choice among the 4 choices that best completes the statement o
ID: 2532185 • Letter: C
Question
Choose the single choice among the 4 choices that best completes the statement or answers the below questions.
1- When a mistake occurs as to the market value of the object of a contract
a.either party can enforce the contract.
b.either party can enforce the contract if the mistake if not more than 20% of the true market value.
c.either party can rescind the contract for failure of consideration.
d.the contract is enforceable by either party if the object of the contract is tangible personal property but not real property.
2- A contract made as the result of undue influence
a.is voidable.
b.void
c.is enforceable because undue influence is not part of contract law.
d.is void if the contracting party subject to undue influence is a minor.
3- The Uniform Commercial Code (UCC) covers all phases
a. of contracts for the sale or lease of everything.
b.of contracts for the sale or lease of goods.
c.of contracts for the sale or lease of tangible personal property and intangible personal property.
d.of contracts for the sale or lease of tangible personal property, intangible personal property and real estate.
Explanation / Answer
Question 1.
a. either party can enforce the contract.
Question 2
a. is Voidable
Question 3
b. of contracts for the sale or lease of goods