A Seller Unknowingly Made a Misrepresentation During Negotiations to Sell

question 24

Multiple Choice

A seller unknowingly made a misrepresentation during negotiations to sell his car.Now that the seller is aware of the misrepresentation and the prospective buyer is returning to make an offer,what recourse is available to rectify the situation and accept the offer without risk of an ensuing law suit?

• A) The seller has no recourse; once information is offered, it must be completely accurate.
• B) The seller can remain silent to secure the best price and plead mistake as a defence.
• C) The seller should simply forego the deal with this buyer and look for a new buyer.
• D) The seller must attend to prompt disclosure of correct facts to the prospective buyer.