When two parties are involved in a mutual mistake (misunderstanding) as to the meaning of a term of the contract, which of the following is usually applied by the court to settle the matter?
A) The court will find that there is no contract because there is no meeting of the minds.
B) Non est factum
C) Caveat emptor
D) The reasonable person test
E) The equitable remedy of rectification
Answer; D) The reasonable person test
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Based on the author's take on e-waste management, a manager would do well to learn that?
A. dealing with e-waste at home can be ten times cheaper than sending it abroad. B. disposal and recycling partners must be audited with the same vigor as suppliers and other partners. C. environmentalists target only the big firms as they can afford to compensate for any environmental damage wrought by their practices. D. e-waste management is simple enough for firms to monitor and track through international agencies such as Fair Factories Clearinghouse. E. appointing environmentalists like Al Gore to the firms board of directors helps avoid legal action and brand tarnishing due to bad e-waste management practices
Property that can be depreciated for income tax purposes is called
a. recovery property. b. tax basis. c. boot. d. like-kind property.