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Question
Cheap Motorcycle. Tony, a hateful, disgruntled, business law teacher notices that a student, Peter, who is past the age of majority, has bought a new motorcycle. Peter has struggled through school, is in his last semester, and needs to pass business law in order to graduate. Tony tells Peter that he would like to see Peter pass; and, in the next sentence, Tony says that he wants to buy the motorcycle for $100, a price far below the value of the motorcycle. Peter asks if Tony is serious about the price, and Tony replies, "I have the power here!" Tony proceeds to draw up a contract for the sale of the motorcycle for $100 with lots of fine print by which he can sue Peter and recover any maintenance costs for the next five years. Seeing that he is at an advantage, Tony also throws into the deal that Peter will mow Tony's one acre yard for $5 all summer long. After Tony tells Peter to either take the contract or leave it, Tony reluctantly signs. Which of the following is true if Peter seeks to rescind the contractual agreement to sell the motorcycle?
A. Peter may rescind the agreement on grounds of fraud.
B. Peter may rescind the agreement on grounds of unconscionability.
C. Peter may rescind the agreement on grounds of mistake.
D. Peter may rescind the agreement on grounds of fraud, unconscionability, and mistake.
E. Peter may rescind the agreement on grounds of fraud or unconscionability, but not mistake.
Answer
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C. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an independent agency may be appealed to court, actions of an executive agency may not be appealed to court.
D. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an executive agency may be appealed to court, actions of an independent agency may not be appealed to court.
E. Because the agency was set up to protect the safety of the public, the agency representative is correct; and Monique has no right to a court action and no right to enter into a contractual agreement with the agency regarding appeal rights.