Which of the Following Is Often the First Sign of a Stolen

question 60

Multiple Choice

Which of the following is often the first sign of a stolen identity?

• A) You receive bills for a credit card account you never opened.
• B) You see charges to your account for things you purchased.
• C) You receive a phone call from the thief.
• D) You receive a duplicate credit card from your credit card company.
• E) All of these are typical signs of a stolen identity.

Identify and explain duress in the context of entering contracts.

Differentiate between mistakes, puffery, and fraud in contract law.

Assess the legal remedies available for victims of fraudulent misrepresentations, undue influence, and duress.

Apply knowledge of contract law to analyze and assess the validity of contracts influenced by misrepresentation, undue influence, or duress.

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Definitions:

Classify

The process of organizing or categorizing items, events, or transactions based on common characteristics or rules.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board that guide how company transactions and other events need to be reported in financial statements.

Revaluation

The process of adjusting the book value of an asset to reflect its current market value.

Intangible Assets

Assets that cannot be physically touched or seen but hold value, such as copyrights, trademarks, and patents.