Which of the Following Is True of Misrepresentation in Contracts

question 46

Multiple Choice

Which of the following is true of misrepresentation in contracts?

• A) A mere untrue assertion is sufficient for proving misrepresentation.
• B) Misrepresentation cannot result from an honest mistake or negligence.
• C) Statements of opinion serve as a basis for rescission.
• D) A victim has to show detriment from misrepresentation to cancel a contract.

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Definitions:

Demand Shifts

Refers to the change in the quantity of a product that consumers are willing and able to buy at different prices, caused by factors other than the price of the product itself.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in market balance.

Equilibrium Quantity

The quantity of goods or services supplied that is equal to the quantity demanded at the market equilibrium price.

Lettuce Crop

The cultivation and production of lettuce, a leafy green vegetable commonly used in salads and other dishes.