Which of the following is true about rescission and restitution?
A) Rescission and restitution are the primary and most common remedies for breach of
contract.
B) Rescission and restitution are designed to give the nonbreaching party the benefit of the
bargain.
C) Rescission and restitution can occur separately, but they usually occur together.
D) Rescission and restitution are available only when the subject matter of the contract is
unique.
C
You might also like to view...
The best definition of assets is the
A) cash owned by the company. B) resources belonging to a company having future benefit to the company. C) collection of resources belonging to the company and the claims on these resources. D) owner's investment in the business.
Employees can never be stakeholders of a corporation
a. True b. False Indicate whether the statement is true or false
Denver wants to start an industrial products manufacturing company, but he finds it difficult to enter the market as it is already dominated by a single producer who controls product quality and product prices. Given this information, Denver is unable to enter the market because of the existence of _____.
A. pure competition B. monopoly C. monopolistic competition D. oligopoly
Marcia, who is single, finished graduate school this year and began repaying her student loan. The proceeds of the loan were used to pay her qualified higher education expenses. She has not received any type of educational assistance or scholarships. The amount of interest paid during the year amounted to $3,000. What is the amount and classification of her student loan interest deduction if her AGI is $73,000?
A. $3,000 for AGI B. $2,500 for AGI C. $500 for AGI D. $2,000 for AGI