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Eleni Agreed to Act as an Investment Adviser for Gnuhigh

Question 12

Multiple Choice

Eleni agreed to act as an investment adviser for Gnuhigh Ltd. After completing her first project for Gnuhigh, she asked for payment of $10 000, as calculated under the terms of the parties' agreement. Gnuhigh refused to pay. In support of its position, it pointed to the Financial Industry Standards Act, which says that a contract for investment advice is unenforceable unless it is registered with a government official. The agreement between Eleni and Gnuhigh is not registered. Eleni is most likely entitled to receive


A) $10 000 as restitution.
B) an order for specific performance.
C) $10 000 as expectation damages.
D) $10 000 as liquidated damages.
E) $10 000 as reliance damages.

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