Which of the Following Is True of Misrepresentation of Law

question 99

Multiple Choice

Which of the following is true of misrepresentation of law not involving professional?

• A) The aggrieved party can sue for damages.
• B) The two parties can sue each other for fraud.
• C) The aggrieved party may rescind the contract but cannot sue for damages.
• D) The innocent party cannot generally rescind a contract.

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Definitions:

Loanable Funds

The money available for borrowing in the financial markets, determined by the savings of individuals and institutions and the willingness to lend.

Interest Rate

The percentage at which interest is charged or paid on a sum of money over a period of time.

Loanable Funds

This refers to the total amount of funds available for borrowing in the financial markets, determined by the saving rate and investment demands.

Equilibrium Interest Rate

The rate of interest where the quantity of money sought equals the amount available, equilibrating investment and savings across the economy.