Asif Purchased a Business from Olga

question 19

Multiple Choice

Asif purchased a business from Olga.During negotiations leading up to the contract,Olga made an innocent misrepresentation.As a result of that statement,Asif has discovered that the business is far less valuable than he expected.Which of the following statements is TRUE?

• A)Asif is not entitled to rescind the contract if,before entering into the contract,he carelessly failed to discover the error contained in Olga's innocent misrepresentation.
• B)Rescission is not available for an innocent misrepresentation.
• C)Asif is entitled to rescission even if,before entering into the contract,he investigated the true state of affairs that Olga addressed in her innocent misrepresentation.
• D)Asif is not entitled to rescission unless he can prove that Olga's innocent misrepresentation was the only,or at least the most important,reason for him entering into the contract.
• E)The only legal remedy available to Asif is rescission.

---

Definitions:

Collective Unconscious

A term coined by Carl Jung, referring to structures of the unconscious mind shared among beings of the same species.

Latent Memory Traces

Hidden or inactive records of past experiences that can potentially be recalled.

Strive

To make great efforts to achieve or obtain a specific objective.

Inferiority

A feeling of lower status or quality compared to others, often associated with low self-esteem or lack of confidence.