With Regard to the Law Concerning Misrepresentation,which of the Following

question 122

Multiple Choice

With regard to the law concerning misrepresentation,which of the following is true?

• A)If the buyer realizes the seller persuaded him to contract by a misrepresentation,he will not be able to get the remedy of rescission if he was tainted with wrongdoing himself (i.e.,not coming with "clean hands").
• B)Damages as a remedy are not available where the misrepresentation becomes part of the contract.
• C)A misrepresentation can be a true assertion of fact that induces (persuades)the party to contract.
• D)Rescission is available as a remedy for misrepresentation only if it is innocent misrepresentation.
• E)The case law allows a remedy for an opinion given by a non-expert.

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Definitions:

Unrealized Gains and Losses

Increases or decreases in the value of investments that a company holds but has not yet sold, and therefore, has not yet realized the gains or losses.

Foreign Currency Items

Foreign currency items are transactions, assets, or liabilities denominated in a currency other than the reporting entity's functional currency.

Pension Liability Adjustments

Modifications made to the recorded amounts of pension obligations to reflect changes in estimates, plan amendments, or actuarial assumptions.

Investor

The company investing in another company’s stock.