Nero Makes an Honest but Erroneous Statement That Misrepresents a Ma?te?rial

question 28

Multiple Choice

Nero makes an honest but erroneous statement that misrepresents a ma?te?rial fact in a contractual transaction with Odell.Nero is guilty of

• A)a unilateral mistake.
• B)duress.
• C)fraud.
• D)innocent misrepresentation.

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Definitions:

Inflation Rate

The increase in the average price levels of goods and services, resulting in reduced purchasing capacity.

Spot Rate

The ongoing market value at which an individual asset can be acquired or disposed of for immediate transfer.

Spot Exchange Rate

The present rate at which a currency is traded for instant delivery.

Exchange Rate

The price at which one currency can be exchanged for another, which can fluctuate based on supply and demand in the foreign exchange market.