A Pre- Contractual Representation

question 59

Multiple Choice

A pre- contractual representation

• A) is a promissory statement.
• B) creates a legally enforceable obligation.
• C) is a voluntary agreement to do something in the future.
• D) will always induce a contract.
• E) can be made by words or conduct.

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Definitions:

Likely Used

Refers to items or methods that are commonly adopted or employed due to their effectiveness or efficiency.

Gross Profit

The amount by which sales revenue exceeds the cost of goods sold, prior to subtracting expenses such as overheads, payroll taxes, and interest.

Operating Expenses

Costs related to the day-to-day operations of a business, excluding the cost of goods sold.

Net Income

Profit calculated after deducting all operating expenses, interest, taxes, and any other charges from total revenues.