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Benny bought shares in Big Chip Maker (BCM) when the shares were trading for $37 a share. For the past 9 years BCM shares have not traded above $21. Can Benny rescind his purchase based on failure of consideration?
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Benny bought shares in Big Chip Maker (BCM) when the shares were trading for $37 a share. For the past 9 years BCM shares have not traded above $21. Can Benny rescind his purchase based on failure of consideration?

a. Yes, he clearly gave more value than he received.b. Yes, he suffered an economic detrimentc. Yes, there is a difference in value sufficient to trigger the adequacy of consideration rule.d. No, unless he was induced into buying the shares through fraud or other wrongdoing.

User Be Chiller Too
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1 Answer

4 votes

Answer:

A

Step-by-step explanation:

Yes, He clearly gave more value that what he received.

User Karishma
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