Fact Pattern 10-2

question 12

Multiple Choice

Fact Pattern 10-2
In selling a commercial building, Riley tells Sam that the property has a certain capacity, making it suitable for a nightclub. Riley knows nothing about the capacity of the building, but it is not as he specifies. Sam buys the building.
​
-​Refer to Fact Pattern 10-2. Under these circumstances, Sam's best course of action is most likely to

• A) ​scam Riley.
• B) ​induce Riley to give him the commission on her next sale.
• C) ​recover damages or rescind the contract to buy the building.
• D) ​sabotage Riley's career with bad publicity.

---

Definitions:

Deposit

A sum of money placed into an account or given to another party as a part of a financial transaction.

Check Register

A check register, also known as a cash disbursements journal, is used to keep track of financial transactions, specifically outflows, associated with a bank account.

Cash Balance

The amount of cash a company or individual has available after all transactions have been accounted for.

Checks

Written, dated, and signed instruments that direct a bank to pay a specific sum of money to the bearer.