Self Check Chapter 13 Quiz (WK4)

Self Check Chapter 13 Quiz (WK4) - Self Check Chapter 13...

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Self Check Chapter 13 Quiz (WK4) 1 Unreasonable delay in notifying the other party of one's decision to rescind a contract  may result in the contract being ratified. A) True B) False 2 Nondisclosure of a fact can have the same effect as a false assertion in making a  contract voidable. A) True B) False 3 In order to avoid a contract due to mutual mistake, the effect of the mistake must be  material. A) True B) False 4 Monica bought a table hoping that it was an antique, although the seller made no  representations about it. If it turns out that the table was not an antique, Monica can  probably rescind the contract on the basis of innocent misrepresentation. A) True B) False 5 Diego told Stephanie, "You'll be happy you bought this house. It's great." If it turns out  that Stephanie is very unhappy with the house and finds a good deal to change, a court  will probably allow her to disaffirm the contract based on Diego's representation. A) True B) False 6 Which of the following statements, if false, is most likely to create liability for fraud or  misrepresentation? A) "This car is worth $10,000."
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B) "This car has 60,000 miles." C) "You'll be happy that you bought this car." D) "This car is in great mechanical condition." 7 Colleen sold a house to Ben for $300,000. Before selling the House, Colleen forgot to  tell Ben about a leaky faucet in a little-used sink in the basement, which would cost  about $30 to fix. Ben inspected the house, but didn't notice the faucet. Later, Ben  wanted to rescind the deal on the basis of fraud or misrepresentation because of the  leaky faucet. Which of the following is the best reason why Ben cannot rescind?
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This note was uploaded on 06/08/2010 for the course MG 260DLB taught by Professor Brentgilje during the Fall '09 term at Park.

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Self Check Chapter 13 Quiz (WK4) - Self Check Chapter 13...

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