A Seller Unknowingly Made a Misrepresentation During Negotiations to Sell

question 45

Multiple Choice

A seller unknowingly made a misrepresentation during negotiations to sell his car.Now that the seller is aware of the misrepresentation and the prospective buyer is returning to make an offer,what recourse is available to rectify the situation and accept the offer without risking an ensuing lawsuit?

• A) The seller has no recourse; once information is offered,it must be completely accurate.
• B) The seller can remain silent to secure the best price and plead mistake as a defence.
• C) The seller should simply forego the deal with this buyer and look for a new buyer.
• D) The seller must attend to the prompt disclosure of the correct facts to the prospective buyer.

Distinguish between different types of probabilities (prior, joint, marginal, posterior) in the context of decision analysis.

Understand basic decision analysis techniques and their applications.

Identify and apply the rollback technique in decision tree analysis.

Understand the distinction between correlational and causational links in health statistics.

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Definitions:

Interest Inventory

A self-assessment tool that helps individuals identify their interests as part of career planning or personal development.

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A theory by Erik Erikson that human development is influenced by social interactions and unfolds in eight stages throughout life.