Dennis Sells a Motorcycle to Elton Without Disclosing That the Odometer

question 8

Multiple Choice

Dennis sells a motorcycle to Elton without disclosing that the odometer, which reads 10,000 miles, was disconnected 100,000 miles ago. Dennis is most likely liable for

• A) fraudulent misrepresentation.
• B) undue influence.
• C) mistake.
• D) duress.

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Definitions:

Maturity

The point in time when the principal amount of a loan, bond, or other financial instrument becomes due and is to be paid or settled.

Contract

A legally binding agreement between two or more parties that is enforceable by law.

Annually

Pertaining to something that occurs once every year or relating to a period of one year.

Line of Credit

A flexible loan arrangement with a bank or lender, allowing the borrower to draw funds as needed up to a certain limit.