Fact Pattern 10-1

question 24

Multiple Choice

Fact Pattern 10-1
Moore Properties, Inc., offers in writing to sell to Lawn Acres Development Corporation a certain half-acre of land for “$112,000.” After Lawn Acres signs the offer in acceptance and returns it, Moore discovers that the price should have been stated as “$121,000.”


-Refer to Fact Pattern 10-1.Moore's misstatement of the price is

• A)a bilateral mistake.
• B)a fraudulent misrepresentation.
• C)a unilateral mistake.
• D)unconscionable.

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Definitions:

Aging Dates

The process of tracking the length of time that items, such as invoices or receivables, have been outstanding.

Patient Statement

A document provided to a patient that details the services received, the amount covered by insurance, and the balance the patient owes to the healthcare provider.

Fair Debt Collection

Practices and regulations that ensure the collection of debts is conducted in a humane, respectful, and lawful manner.

Business Debts

Financial obligations incurred in the course of running a business, including loans, leases, and money owed to suppliers.