Damages as a Remedy Will Not Be Available in Which

question 129

Multiple Choice

Damages as a remedy will not be available in which of the following situations?

• A)Jones makes a negligent misstatement,persuading Smith to enter a contract with him.
• B)Jones,although being careful,makes an innocent misrepresentation,persuading Smith to enter a contract with him.
• C)Jones makes a fraudulent misrepresentation,persuading Smith to enter a contract with him.
• D)A false statement made by Jones becomes a term of the contract.
• E)none of the above

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Definitions:

Marginal Revenue

The additional income that is gained from selling one more unit of a product or service.

Monopoly's Product

A unique product or service without close substitutes, offered by a monopolist who faces no competition.

Profit-Maximizing

Refers to strategies or decisions taken by a company to maximize its profits by increasing revenue, reducing costs, or both.

Charge a Price

The act of assigning a monetary value to a product or service that customers must pay to obtain it.