Mike owns a house in a poor area of a large city. Mike is on disability and his total monthly income is $700 . A sales representative visits his home, selling a water purification system. Mike signs a contract that calls for monthly payments of $500 for the next 10 years. The water system is worth no more than $1000 . Mike thought he was signing a permission slip allowing the salesman to conduct
a free water test to determine the toxins in the water. How would a court most likely describe this contract?
a. The contract is fully enforceable as written.
b. The contract is unenforceable because it is unconscionable.
c. The contract is enforceable, but only up to the value of the water system.
d. The contract is unenforceable because it is exculpatory.
b
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According to the PCAOB, an accounting firm's independence is least likely to be impaired if the firm
a. Provides a service to the audit client for a contingent fee b. Receives a commission from the audit client c. Has an audit client that employs a former firm professional d. Provides tax services to a person in a financial reporting oversight role at the audit client
Gabby is a negotiator for an employer. She prepares for negotiations with the union representative and they sit down to bargain. After a few minutes, she realizes that the union's goals and her goals are in opposition. She realizes that she is involved in
a. interest based bargaining. b. distributive bargaining. c. integrative bargaining. d. procedural bargaining.