Reliance on a Misrepresentation Is Justified If the Misrepresentation Is

question 48

True/False

Reliance on a misrepresentation is justified if the misrepresentation is an obviously extravagant statement.​

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Definitions:

Residual Value

The projected worth of an asset upon reaching the conclusion of its serviceable duration.

Present Value Factors

Numeric factors used in financial calculations to determine the present value of a future amount by accounting for time value of money.

Bargain Purchase Option

An option in a lease agreement that allows the lessee to purchase the leased asset at a price significantly lower than its expected fair market value at the end of the lease term.