What is the doctrine of unconscionability under the UCC?
What will be an ideal response?
UCC Article 2 and Article 2A have adopted the equity doctrine of unconscionability. Under this doctrine, a court may determine as a matter of law that a contract is an unconscionable contract. To prove unconscionability, there must be proof that the parties had substantially unequal bargaining power, that the dominant party misused its power in contracting, and that it would be manifestly unfair or oppressive to enforce the contract. If a court finds that a contract or any clause in a contract is unconscionable, the court may refuse to enforce the contract, it may enforce the remainder of the contract without the unconscionable clause, or it may so limit the application of any unconscionable clause as to avoid any unconscionable result.
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a. Operating leverage. b. Break-even chart. c. Incremental analysis. d. Margin of safety.
_________ include people, hardware, software, or other assets.
Fill in the blank(s) with the appropriate word(s)
We buy life insurance in order to transfer
A) adverse risk. B) negative risk. C) pure risk. D) speculative risk.
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Answer the following statement true (T) or false (F)