Ben and Kate had been negotiating Ben's employment contract in conversations over the phone for a couple of weeks. Finally, they agreed on some contract terms. Kate offered to create a draft of the contract for Ben to read over. On the same day Ben was fired from his job. Afraid he would be unemployed, Ben signed Kate's draft without reading it. In this example Ben:
a. can avoid the contract because of mistake by failure to read.
b. can avoid the contract because he was the victim of economic duress.
c. cannot avoid the contract because of economic duress or failure to read.
d. may rescind the contract because of unilateral mistake.
c
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Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investment at 10%, salary allowances of $27,000 and $18,000 respectively, and the remainder equally. How much of the net loss of $6,000 is allocated to Yolanda?
A) $1,000 B) $3,000 C) $5,000 D) $0
People below the age of majority are considered minors
Indicate whether the statement is true or false
Which mode of transportation would cost the LEAST per ton mile?
A) air B) rail C) motor (truck) D) water
A zoning ordinance may be challenged in the court by proving:
A) it bears no reasonable relation to public health, safety, morals, or welfare. B) it involves the exercise of powers not granted to the municipality by the enabling act. C) the restriction deprives a person of all use of the property. D) Any of these.