In a Situation Where One Party to a Contract Has

question 49

Multiple Choice

In a situation where one party to a contract has lied about the subject matter in order to entice the other party to enter into a contract,the type of fraud that would most likely be present is:

• A) fraud in the inception.
• B) fraud in the inducement.
• C) fraud by concealment.
• D) fraud by undue influence.
• E) fraud in the substance.

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Definitions:

Eurodollars

U.S. dollars deposited in banks in other countries.

Foreign Banks

Banks that are based in a country different from where they provide services or conduct operations.

Direct Quote

A direct quote is a representation of the cost of one currency in terms of another currency.

British Pound

The currency of the United Kingdom, which is one of the world's major currencies, traded extensively in the foreign exchange markets.