Which of the Following Is False with Regard to Misrepresentation

question 41

Multiple Choice

Which of the following is false with regard to misrepresentation?

• A)If the seller induces the buyer to buy by making a misrepresentation that she honestly thought was true,the buyer has no remedy in equity.
• B)A misrepresentation can be made about a term of a contract and result in an award of damages.
• C)For fraudulent misrepresentation,the buyer can be granted the equitable remedy of rescission.
• D)Fraudulent misrepresentation can result in the seller being sued for damages for the tort of deceit.
• E)In law,a misrepresentation is a false statement of fact that persuades someone to enter into a contract.

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Definitions:

Zero Profit

A situation where a firm's total revenues are exactly equal to its total costs, leading to no net gain or loss.

Breaking Even

The situation in which a firm is earning exactly a normal rate of return.

Economic Profit

This refers to the surplus remaining after subtracting both visible and hidden costs from total revenues, highlighting a firm's genuine financial gain.

Annual Profit

Annual profit refers to the total profit a business earns over the course of a fiscal year, accounting for all revenues minus expenses during that period.