Asked by Nathalie Almonte on Apr 29, 2024
Verified
In some states,a party injured by fraud can both rescind the contract and sue for damages.
Fraud
A deliberate deception practiced in order to secure unfair or unlawful gain, often involving financial transactions.
Rescind
To revoke, cancel, or repeal a law, order, or agreement.
Sue
To initiate a lawsuit or legal action against an individual or entity in a court of law.
- Explain the differences between concealment, nondisclosure, and misrepresentation in the realm of contract law.
- Explore the legal effects of misstatements and blunders in the process of contract creation.
Verified Answer
SS
Sharanpreet SinghMay 01, 2024
Final Answer :
True
Explanation :
Some states have a provision where the injured party can rescind the contract as well as sue for damages.
Learning Objectives
- Explain the differences between concealment, nondisclosure, and misrepresentation in the realm of contract law.
- Explore the legal effects of misstatements and blunders in the process of contract creation.