Basic business law Multiple choice questions

55) Greg uses threats of physical harm to force Kim to enter into a contract. This is: duress. b) fraud. mistake. undue influence. c) 56) Local Investment Company and Midstate unilateral mistake of fact will make it possible for the mistaken party to rescind the contract: if the mistake of fact is immaterial. b) if the mistake of fact is material. c) only under some circumstances. d) under no circumstances. 57) Earl holds 1,000 pounds of his perishable fruit in storage for Fresh Food Corporation. Fresh Food does not pay for the fruit. Earl sells the fruit to Green Grocery Stores, Inc. This sale represents: a breach of contract. b) a mitigation of damages. rescission and restitution. d) specific performance. a) 58) Fraud requires a showing of a material falsehood relied on to someone's detriment that was: done in writing, b) done negligently. done intentionally d) done in front of a third party. 59) The remedy likely to be awarded for breach of a personal service contract is: a) specific performance. injunction. contempt. money damages. 60) Damages that put the injured party in the position it would have been in if the breaching party had performed are: reliance damages. b) restitution. quantum meruit. expectation damages