Historically, the only legal protection a consumer had against a seller that engaged in deceit during a sale was a common law suit for fraud.
Answer the following statement true (T) or false (F)
True
A lawsuit alleging fraud used to be the only remedy for deceptive sales practices.
You might also like to view...
Under GASB Statement No. 34, the notes to the financial statements must include budgetary information that includes the original budget and revised budgets
Indicate whether the statement is true or false
The Farley Company had retained earnings at the beginning of the year totaling $100,000 . At the end of the year retained earnings totaled $200,000 . Depreciation was $50,000 for the year and the company paid dividends of $150,000 . What is the amount recorded as Net Income in the operating activities section of the statement of cash flows prepared using the indirect method?
a. a net loss of $150,000 b. a net income of $150,000 c. a net income of $0 d. a net income of $250,000 e. a net loss of $50,000
Which of the following can meet the scienter requirement to establish fraud in the inducement?
a. Actual knowledge. b. Lack of belief in the statement's truthfulness. c. Reckless indifference as to a statement's truthfulness. d. All of these meet the requirement.
Which of the following statements is inaccurate in reference to domain names?
A. Domain names are rented. B. Domain names are owned. C. Domain names are renewable. D. GoDaddy is a popular domain name registrar.