Ralph Sold a Motel to Steve by Stating That He

question 48

Multiple Choice

Ralph sold a motel to Steve by stating that he had paid $250,000 for it and that his net average annual profit from the business has been $40,000. In reality he paid $100,000 for the motel and has earned a net average annual profit of only $30,000. Steve made no attempt to verify the statements until after the transaction was completed. In this case:

• A) Ralph has committed fraudulent misrepresentation.
• B) Steve is bound by the contract, because he failed to verify the statements which were made to him.
• C) Ralph has used economic duress to compel the sale.
• D) All of these.

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Definitions:

Word-to-File Move

A process in programmable logic controllers (PLCs) where data is moved from one or more word-sized locations to a file or array.

File-to-File Move

A operation in computing where data is transferred directly from one file to another within the same or between different storage mediums.

Data Transfer

The process of moving or copying data from one location, device, or system to another, often involving different types of networks and protocols.

U-1 Measure

A specific metric for unemployment that counts individuals who have been unemployed for 15 weeks or longer, indicating long-term unemployment.