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

Question

Quizplus · Accepted Answer

Restitution is a legal remedy that requires a party to return any benefits received under a contract that is later found to be unenforceable. In this case, Gnuhigh received the benefit of Eleni's investment advice, so Eleni is entitled to restitution in the amount of $10,000.

Eleni Agreed to Act as an Investment Adviser for Gnuhigh