If Misrepresentation Causes a Party to Enter into a Contract

question 4

Multiple Choice

If misrepresentation causes a party to enter into a contract, that party may have the legal right to ____.

• A) cancel the contract
• B) seek reimbursement for damages
• C) cancel the contract and seek reimbursement for damages
• D) either cancel the contract or seek reimbursement for damages, but not both

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Definitions:

English Auction

A public sale in which goods or properties are sold to the highest bidder, where the price ascends with successive bids until no higher bids are made.

Expected Revenue

The amount of money a company anticipates receiving from sales of its goods or services, based on current or forecasted demand.

Rational Bidders

Individuals or entities that make bids based on logical assessment of value and probability of winning in auctions or competitive contexts.

English Auction

A bidding process where participants openly bid against each other, with the item being sold to the highest bidder.