Essay
The following are the gross profit percentages for Naylor Company: 
List four possible explanations for the low gross profit percentage in 2015.
Distinguish between different types of misrepresentations (fraudulent, negligent, innocent) and their implications.
Understand the role of scienter in misrepresentation cases.
Know the legal remedies available when a contract is entered into under mistake, violence, intimidation, undue influence, or fraud.
Understand the classification of mistakes in contract law and their consequences.
Definitions:
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