Lyra Induces Moe to Enter into a Contract for the Sale

question 6

Multiple Choice

Lyra induces Moe to enter into a contract for the sale of an apartment about which Lyra fraudulently misrepresents a number of material facts.Lyra tells Moe that her commission is 6 percent,but their signed,written contract states "12 percent." The Statute of Frauds governs

• A)contracts that are induced by fraud.
• B)contracts that must be in writing to be enforceable.
• C)the admissibility in court of oral evidence.
• D)the reformation of oral and written statements into one contract.

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Definitions:

Price Rise

An increase in the cost of goods and services in an economy over a period, often leading to decreased purchasing power.

Demand

The desire of purchasers, consumers, clients, or employers, backed by the ability and willingness to pay for a particular commodity or service.

Consumer Income

The total amount of income earned by consumers, influencing their purchasing power and demand for goods and services in the economy.

Demand Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product demanded at those prices.