The Rights of an Owner to Use and Exchange Property

question 228

Multiple Choice

The rights of an owner to use and exchange property are

• A) capitalist rights.
• B) socialist rights.
• C) property rights.
• D) money rights.

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Definitions:

Reasonable Care

A legal standard requiring individuals or organizations to act with the level of caution and vigilance that a prudent person would under similar circumstances, to prevent harm to others.

Scienter

Intent or knowledge.

Innocent Misrepresentation

A false statement about a fact material to an agreement that the person who made the statement believed to be true.

Mutual Mistake

The result of an error by both parties about a material fact, that is, one that is important in the context of a particular contract.