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.
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