Explain undue influence.
What will be an ideal response?
The basic idea behind undue influence is to protect the old, the timid, and the physically or mentally weak from those who gain their confidence and attempt to take advantage of them. Victims of undue influence must have the mental capacity to contract but lack the ability to adequately protect themselves against unscrupulous persons who gain their confidence. In most states, a confidential relationship raises a presumption of undue influence that the benefiting party must disprove.
Most of the cases in which undue influence is charged involve relatives, friends, or long-time advisors (such as lawyers or bankers) of an elderly or sick person, who are alleged to have gotten the victim to make gifts or sales at unfair prices. In determining whether under influence occurred, each case is very fact-specific.
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Which of the following is usually expressed in the form of a percentage?
a. rate of interest; b. principal of the note; c. time of the note; d. discount of the note; e. maturity value
Social norms indicate how to dress, how to speak, what to eat, how to eat, and how to behave
Indicate whether the statement is true or false
____________ are used to gather consumer opinions on existing products, new product ideas, future buying habits, and opinions of competitor products.
What will be an ideal response?
Business suits, silk shirts and ties, woolens, and similar items should be machine washed. _________________________
Answer the following statement true (T) or false (F)