Asked by Ariyon Powell on Apr 29, 2024
Verified
Contracts that are induced by misrepresentation are considered:
A) voidable.
B) enforceable.
C) material.
D) fraudulent.
Misrepresentation
A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.
Voidable
A legal term referring to a contract or transaction that may be deemed invalid by one party, though it remains valid until annulled.
Fraudulent
Deceptive or dishonest behavior intended to result in financial or personal gain.
- Understand the concept of contracts being voidable due to misrepresentation and differentiate it from fraudulent contracts.
Verified Answer
DK
Destiny KerstMay 01, 2024
Final Answer :
A
Explanation :
Contracts induced by misrepresentation,fraud,mistake,duress,or undue influence are generally considered to be voidable.This means that the person whose consent was not real has the power to rescind (cancel)the contract.
Learning Objectives
- Understand the concept of contracts being voidable due to misrepresentation and differentiate it from fraudulent contracts.