Damages as a Remedy Will Not Be Available in Which

question 73

Multiple Choice

Damages as a remedy will not be available in which of the following situations?

• A) Jones, although being careful, makes an innocent misrepresentation persuading Smith to enter a contract with him.
• B) Jones makes a fraudulent misrepresentation, persuading Smith to enter a contract with him.
• C) Jones makes a negligent misstatement, persuading Smith to enter a contract with him.
• D) A false statement made by Jones becomes a term of the contract.
• E) Jones makes an intentional misrepresentation of fact in order to get Smith to sign the agreement.

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Definitions:

Gains from Specialization

The increase in overall production and efficiency that occurs when individuals or entities focus on specific tasks or functions they perform best.

Comparative Advantage

The ability of an individual, company, or country to produce a good or service at a lower opportunity cost than competitors.

World Economic Resources

It refers to all natural, human, and capital resources that are available globally which support economic production and development.

Net Exporter

A country that exports more goods and services than it imports, leading to a positive trade balance.