A Has a Tom Thomson Painting That He Wishes to Sell.A

question 29

Multiple Choice

A has a Tom Thomson painting that he wishes to sell.A has heard that B is an art lover and takes very good care of the paintings of Canadian masters.As a result,A decides that he will only contract with B.So he calls B and they make a deal over the telephone.Unfortunately,B's servant C overhears the conversation and before B can get to A's house,C arrives there pretending to be B.A sells the painting to C believing that C is B.Just after C leaves A's house,B shows up and A realizes his error.This situation is a classic example of

• A)breach of contract.
• B)fraud or deceit.
• C)mistake by both parties as to the subject matter of the contract.
• D)unilateral mistake as to identity.
• E)all of the above

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Definitions:

Point B

Often used in graphs or models to denote a specific location, point, or situation being analyzed or referenced.

Opportunity Cost

The cost of missing out on the next best alternative when making a decision.

Point A

Typically used as a reference point in diagrams or illustrations in economics or geometry.

Opportunity Cost

The dues for not selecting the following most suitable option when making decisions.