The Contract for an Oakville Property Had Been Signed by Both

question 157

Multiple Choice

The contract for an Oakville property had been signed by both parties. Which of the following is necessary for the contract to be set aside on the grounds of misrepresentation?

• A) The misrepresentation must have been a False statement of a fact; False statements of opinion are never misrepresentations.
• B) The misrepresentation must have been a term of the contract.
• C) The misrepresentation must have induced the party to enter the contract.
• D) The misrepresentation must have been in writing.
• E) The misrepresentation must have been made recklessly or wilfully.

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Definitions:

Budget Deficit

The financial situation where a government's expenditures exceed its revenues.

Desired Investment Spending

The level of spending on new physical assets like buildings and machinery that firms wish to undertake, given their expectations for future growth and profitability.

Supply Of Loanable Funds Curve

A graphical representation showing the relationship between the interest rate and the total amount of savings available for lending in the financial market.

Demand For Loanable Funds Curve

The demand for loanable funds curve illustrates the relationship between the interest rate and the quantity of loanable funds demanded by borrowers, showing how borrowing can decrease as interest rates rise.