Which of the following is an example of a commercial risk?
A) the risk of insufficient retirement income
B) the loss of business income
C) the risk of premature death
D) the risk of being unemployed
Answer: B
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A buyer makes an offer on the seller's property. The seller changes the price and signs the counteroffer. Which of the following statements regarding this situation is INCORRECT?
A. The original offer has been rejected. B. The original offeree is now the offeree C. The agreement is binding on both parties. D. The counteroffer is a new offer.
In a contract involving a minor, whether an item can be considered a necessary:
a. does not depend on the facts of the particular case. b. depends on the minor's station in life. c. does not depend on the minor's age. d. depends on whether the adult who contracted with the minor chooses to disaffirm the contract.