BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the injured party
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the UCC
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both a and b
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nonce of these
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Detailed explanation-1: -A misrepresentation is a false statement of a material fact made by one party which affects the other party’s decision in agreeing to a contract. If the misrepresentation is discovered, the contract can be declared void. Depending on the situation, the adversely impacted party may seek damages.
Detailed explanation-2: -A misrepresentation in contract law is a statement of fact that is not true and that persuades someone to enter into a contract. The contract does not have to be in writing, it can be a verbal agreement. The untrue statement can be made by an agent or employee on the part of their principal or employer.
Detailed explanation-3: -Under what circumstances will an innocent misrepresentation by a party cause a contract to be voidable?-Courts generally hold that if it was reasonable for the misled party to have relied on the innocent misrepresentation, the contract is voidable.
Detailed explanation-4: -DOLO CAUSANTE; Fraud used by one of the parties to a contract in SECURING THE CONSENT of the other party. It VITIATES CONSENT and is ground for annulment of the contract by the innocent party. It renders the contracts VOIDABLE.