Suppose you offer your car for sale. Your car was submerged up to the windows in a flood three years ago, but the car currently seems to be operating fine for you. A potential buyer asks you, “Has...

1 answer below »

Suppose you offer your car for sale. Your car was submerged up to the windows in a flood three years ago, but the car currently seems to be operating fine for you.

A potential buyer asks you, “Has your car ever been in an accident?” If you say “no,” have you committed a misrepresentation? What must happen for a fraudulent representation to occur?

Suppose the person instead asks you “Has your car ever been damaged?” What other types of misrepresentation are there?

If a potential buyer does not ask you any questions regarding the condition of your car, must you voluntarily disclose that your car has been in a flood? Should you? Could a misrepresentation occur by remaining silent?

Would this person be able to rescind a contract due to a misrepresentation or mistake?

Be sure to draft your answers in paragraph form discussing each question thoroughly. You will also need to reply substantively to a classmates' posting. Remember that the questions may be asking you for your opinion and not necessarily a specific answer from the text. Use your new knowledge to work it out!

Answered 2 days AfterMar 27, 2022

Answer To : Suppose you offer your car for sale. Your car was submerged up to the windows in a flood three years...

Insha answered on Mar 30 2022
25 Votes
Running Head: BUSINESS LAW                                1
BUSINESS LAW                                        3
BUSINESS LAW
Table of Contents
Misre
presentation and Consequences    3
Other Types of Misrepresentation that can Appear    3
Voluntary Disclosure of the Condition    3
Rescind a Contract due to a Misrepresentation or Mistake    3
References    4
Misrepresentation and Consequences
Person may sell a car that has been flooded if he is upfront about it and the title is labelled as a flood salvage. Misrepresentation occurs when one party (or their representative) provides false information to the other before the contract is signed. If a person enters into a contract based on deception and loses as a result, they have the right to annul the contract or sue for damages (Rees-Jones & Skowronek,...
SOLUTION.PDF

Answer To This Question Is Available To Download

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here