When you went home for Thanksgiving dinner, your great aunt, now 80 years old, seemed very unhappy. You learned that she had just signed a contract to buy an expensive condominium in a retirement community. She had attended a real estate "seminar" with her friend. In trying to think of a way for her to get out from under this contract, you review mistake, duress, undue influence, and unconscionability. Which of the following is false?

A) To avoid the contract on the basis of non est factum, she would have to prove, among other things, that she did not understand the nature of the document signed.
B) To avoid the contract on the basis of undue influence, she would have to show that she was improperly pressured by a trusted person in a dominant position.
C) To avoid the contract on the basis of duress, she would have to show that she was forced into signing the contract against her will by serious threats.
D) To avoid the contract on the basis of unconscionability, she would have to have evidence that the sellers of the property knowingly took advantage of their superior bargaining position and that the consideration was grossly unfair.
E) To avoid the contract on the basis of mistake, there is a presumption of mistake and she will automatically get out of the contract.


E) To avoid the contract on the basis of mistake, there is a presumption of mistake and she will automatically get out of the contract.

Business

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[APPENDIX] Stockton Corporation has made an accounting entry to record deferred taxes as a liability resulting from temporary differences between accounting income and taxable income. Which of the following statements is true?

a. Deferred tax will be decreased. b. Stockholders' equity will be increased. c. Stockholders' equity will be decreased. d. Assets will be decreased.

Business

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Indicate whether the statement is true or false

Business

Projects are often underfunded in the concept stage because:

A) The project requirements were deliberately understated. B) There is complete trust in project managers by top management so more resources can be asked for at any time. C) The project's goals are too clearly defined. D) The project's top management sponsor is too influential.

Business