According to the Restatement (Second)of Contracts,nondisclosure Is a Misrepresentation If

question 90

True/False

According to the Restatement (Second)of Contracts,nondisclosure is a misrepresentation if it would constitute a failure to act in "good faith."

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Definitions:

Statement of Cash Flows

A financial report that summarizes the amount of cash and cash equivalents entering and leaving a company.

Income Tax Expense

The amount of income tax a company is obligated to pay to the government, based on its taxable income.

Cash Basis

An accounting method where revenues and expenses are recorded when cash is received or paid, rather than when they are incurred.

Statement of Cash Flows

A financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company.