Which of the following statements is true about a court's willingness to rescind a contract due to a mistake?
A) Courts are more willing to rescind a contract when a unilateral mistake has occurred.
B) Courts are equally willing to rescind a contract whether the mistake is unilateral or bilateral.
C) Courts are more willing to rescind a contract when a bilateral mistake has occurred.
D) Neither a unilateral nor a bilateral mistake constitutes sufficient reason to rescind a contract.
C
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Harry's Heimeshe Herring Co began operation in early 2018 with 50,000 in owners' equity and a bank loan of $25,000. With those funds it purchased equipment and kept $5,000 in the bank. Over that first year Harry's made an after-tax profit of 18,000 and paid no dividends. Last year it made $40,000 in profits after tax, from which it paid 18,000 in dividends. Near the end of the year the owners invested additional 10,000. Harry's Book Value at the beginning of this year was:
a) 46,000 b) 50,000 c) 55,000 d) 95,000 e) 100,000
What does the learning theory teach marketers about demand for products?
What will be an ideal response?