this is a business law question. 10Fredrick sold his car to Thomas for $4,000. The car's actual value is approximately $10,000. In retrospect, Fredrick is upset with the deal. Can Fredrickeither get his car back from Thomas or recover from him the monetary difference ($6,000) accounting for the car's actual value?Multiple ChoiceYes, since this is obviously a bad bargainYes, but Fredrick can only recover from Thomas the monetary difference ($6.000) accounting for the car's actual value; he cannot get hiscar backYes, but Fredrick can only get his car back from Thomas; he cannot recover the monetary difference ($6,000) representing the car's actualvalueNo, this is simply a bad bargain on Fredrick's partNo, because the difference between the contract price for the car and the car's actual value, $6.000, does not exceed the $10,000 amountrequired for a remedy pursuant to Article 2 of the Uniform Commercial Code (UCC)

Introduction: Business law refers to the body of legal rules and regulations that govern business…

Answered: 10 Fredrick sold his car to Thomas for…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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