In Hickman V

question 103

Multiple Choice

In Hickman v.Bates,involving the sale of land by the plaintiff to the defendant,the court found:

• A) that Bates had forced Hickman to sign under duress and awarded Hickman the value of the property that she signed away as compensatory damages.
• B) that Bates had made an intentional misstatement of the facts constituting fraud and awarded Hickman the value of the property that she signed away as compensatory damages.
• C) that Bates committed fraud by not disclosing information to the young and mentally limited Hickman and awarded Hickman the value of the property that she signed away as compensatory damages.
• D) that Bates committed fraud by not disclosing information to the young and mentally limited Hickman and rescinded the contract.
• E) that a contract was formed with the consent of the parties, that Hickman's mistake was unilateral, and that since Hickman could have sought advice but did not, she had no remedies.

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Definitions:

Par Value

The nominal or face value assigned to a share of stock or a bond, used in legal documents and usually unrelated to market value.

Corporate Charter

A corporate charter is a legal document that establishes a corporation, setting forth its structure, powers, and objectives as granted by the state.

Issue Price

The price at which new shares, bonds, or other securities are offered to the public or the holders.

Cash Dividend

A payment of profits by a company to its shareholders in the form of cash, typically issued on a quarterly basis.