Byron agrees to sell to Charity, for $1,500, a remote parcel of land. They be-lieve the land to be worthless, but beneath it is a gold mine. Byron can
a. notrescind the contract.
b. rescind the contract on the basis of fraud.
c. rescind the contract on the basis of mistake.
d. rescind the contract on the basis of undue influence.
A
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Indicate whether the statement is true or false
You are starting a business and as part of your business plan you need to develop a break-even analysis. Your fixed costs (overhead) associated with your store are $1,000,000 annually, and your selling price per item is $2,500. If you have a labor cost of $500 per unit, marketing costs of $250 per unit, and other variable costs of $500 per unit, what is your break-even point of sales?
What will be an ideal response?
________ occurs when a company sells one or more businesses.
A. Merger B. Acquisition C. Diversification D. Divestiture E. Cooptation
Which of the following is correct with respect to election of remedies?
a. The Code follows the doctrine of election of remedies with respect to contracts for the sale of goods. b. The remedy of specific performance is consistent with that of restitution. c. A person who seeks an injunction may also seek incidental damages for the breach. d. All of these are correct.