The Contract for the Surrey Property Had Been Signed by Both

question 12

Multiple Choice

The contract for the Surrey property had been signed by both parties. Which of the following is necessary for the contract to be set aside on the grounds of misrepresentation?

• A) The misrepresentation must have been a false statement of a fact; false statements of opinion are never misrepresentations.
• B) The misrepresentation must have been a term of the contract.
• C) The misrepresentation must have been in writing.
• D) The misrepresentation must have been made recklessly or wilfully.
• E) The misrepresentation must have induced the party to enter the contract.

Distinguish between payor and collecting banks and their roles in the check collection system.

Understand and describe the procedures and responsibilities involved in identifying and reporting a forged check.

Analyze the validity and payment requirements of stale checks in the banking environment.

Explain the concept of electronic funds transfer (EFT) and its benefits for banks and customers, including customer protections under law.

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Definitions:

Components

Components in programming refer to reusable pieces of software or hardware that can be integrated to form a functional system.

Composition

In programming, the concept of building classes whose instances are derived from other classes not through inheritance but by including them as instance variables.

Is-a

The "Is-a" relationship in object-oriented programming describes an inheritance connection where a child class is a more specific instance of a parent class.

Has-a

A relationship in object-oriented programming where one class contains a reference to another, indicating a posession or usage relationship.