What is the difference between an unilateral mistake and a mutual mistake? Under what circumstances will a court refuse to rescind a contract based on the defense of a "mistake"?
A unilateral mistake occurs when only one party enters a contract under a mistaken assumption; a mutual mistake, on the other hand, occurs when both parties contract based on the same factual error. However, the defense of mistake is not a cure-all for all bad deals. Courts will not rescind contracts based on the following:
A prediction error: a contract based on a prediction that proved wrong, cannot be rescinded.
A mistaken value: not knowing the value of an item is not enough to take back a deal.
Conscious uncertainty: no rescission is permitted where one of the parties knows he is taking on a risk; that is, he realizes there is uncertainty about the quality of the thing being exchanged.
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Which of the following statements below is not a reason a company may purchase another company's stock?
A) earning a return on excess cash B) buoying up the other company's stock price C) gaining control of another company's operations D) developing or maintaining business relationships
The contribution margin per unit and the contribution margin ratio will remain constant as long as:
a. the sales revenue varies in direct proportion to volume. b. the cost of production and selling price changes. c. the volume of sales decreases. d. the selling cost remains the same.
Which of the following sets of characteristics is representative of a low-involvement purchase?
A. The item to be purchased is expensive and seldom purchased, but carries little risk and requires little research. B. The item to be purchased is inexpensive and frequently purchased, is an item of limited risk, and requires little forethought. C. The item to be purchased is expensive, seldom purchased, and risky, and requires research. D. The item to be purchased is inexpensive, seldom purchased, and risky, and requires little research. E. The item to be purchased is expensive and frequently purchased, carries little risk, but requires research.
The resource pool model of the project management office (PMO) works best when the PMO is generally viewed as a Level 1 support structure
Indicate whether the statement is true or false