A Fraudulent Misrepresentation Which Induces Another Person to Enter into a Contract

question 25

Multiple Choice

A fraudulent misrepresentation which induces another person to enter into a contract can result in which of the following remedies?

• A) Rectification
• B) Rescission and/or damages
• C) There is no remedy available for fraudulent misrepresentation.
• D) Damages only
• E) Rescission only

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Definitions:

Collective Willingness

The aggregated preference or desire of a group of individuals to support or buy into a particular idea, policy, or product.

Marginal Cost

The boost in complete costs associated with creating one more unit of a product or service.

Private Good

A product that is excludable and rival in consumption, meaning its use is limited to the purchaser and it cannot be shared without diminishing availability to others.

Rivalry

Competition or contention between two or more parties for a goal that only one can attain.