When Will Silence Distort a Previous Assertion

question 67

Multiple Choice

When will silence distort a previous assertion?

• A)whenever a change in circumstances occurs
• B)whenever a change in circumstances does not affect the accuracy of a representation
• C)when a contract requires a duty of utmost good faith
• D)when a change in circumstances affects the accuracy of an earlier pre-contractual representation
• E)when a statutory provision requires disclosure

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Definitions:

Product Promotion

Activities undertaken by a company to increase awareness, create interest, and generate sales or acceptance of its products or services.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, leading to competition based on factors other than price.

Pure Competition

A market structure characterized by an extremely large number of sellers, none of which can significantly influence price or market conditions due to the homogeneity of the product being sold.

Pure Monopoly

A market structure characterized by a single seller selling a unique product in the market. In a pure monopoly, the single seller controls the entire market supply and sets the price.