Fred Is a Concert Violinist Who Is Scheduled to Perform

question 45

Multiple Choice

Fred is a concert violinist who is scheduled to perform at Carnegie Hall for the first time. He buys what he is told is a Stradivarius violin from a well-known, reputable dealer in quality violins, and he pays the going rate for a Stradivarius. He later learns the violin is an imitation, although it is a good imitation, which fooled even the dealer. In this case:

• A) Fred has made a unilateral mistake and cannot void the contract.
• B) the dealer has committed fraud in the inducement.
• C) the sale is voidable by the purchaser for mutual mistake.
• D) the sale may be rescinded, because the dealer has made a nonfraudulent misrepresentation.

Understand the marketing concept and the importance of satisfying customer needs.

Recognize the value and methods of maintaining customer relationships and loyalty.

Learn the elements of the marketing mix (four Ps).

Understand the evolution of market orientations and their impact on marketing strategies.

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