If a Party to an Existing Contract Discovers He or She

question 91

Multiple Choice

If a party to an existing contract discovers he or she had made an incorrect statement during the contract negotiations,then he or she should

• A)rescind the contract immediately.
• B)declare the contract voidable at the option of the other party.
• C)call his or her lawyer before he or she is sued for negligent misrepresentation.
• D)inform the other party of the true situation as soon as possible.
• E)offer to make allowances for any misunderstandings.

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Definitions:

Psychiatry

A branch of medicine dealing with psychological disorders; practiced by physicians who sometimes provide medical (for example, drug) treatments as well as psychological therapy.

Cognitive Neuroscience

The study of the neural mechanisms underlying cognition, focusing on the neural connections involved in mental processes.

Introspection

The examination and analysis of one's own thoughts, feelings, and sensations; a method used in psychology and philosophy.

Structuralism

An approach in psychology that seeks to understand the structure of the mind and consciousness by analyzing its constituent components.