Which of the Following Is a Remedy for Fraud

question 31

Multiple Choice

Which of the following is a remedy for fraud?

• A)Rescission of the contract by the buyer.
• B)Disaffirming the contract and then suing in tort for damages resulting from the fraud.
• C)Ratification of the contract by the buyer.
• D)Restitutionary damages.

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Definitions:

New Equilibrium Price

The price at which the market demand equals the market supply after a shift in supply or demand has occurred, creating a new point of balance.

Demand Equation

A mathematical formula that represents the relationship between the quantity of a good or service demanded and various factors affecting it, such as price and income.

Equilibrium Quantity

The quantity of goods supplied that is exactly equal to the quantity of goods demanded at the market price.

Consumer Expectations

The beliefs or anticipations consumers have about future prices, product quality, service, and other factors that influence their purchasing decisions.