Define and discuss the concept of materiality in relation to misrepresentation
A misrepresentation is material if it would be likely to induce a reasonable person to manifest assent or the maker knows that it would be likely to induce the recipient to do so. The Restatement of Contracts provides that a contract justifiably induced by a misrepresentation is voidable if the misrepresentation is either fraudulent or material. A fraudulent misrepresentation does not have to be material to obtain rescission, but it must be material to recover damages.
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Investment center managers are responsible for generating profits and making use of the investment center's assets
Indicate whether the statement is true or false
Statements that show the financial statements as if proposed transactions had already occurred are called:
A. Interim statements. B. Pro forma statements. C. Simplified statements. D. Temporary statements. E. Professional statements.
The UCC imposes a higher standard of good faith on merchants than on nonmerchants
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MERS has the same information that is available in the public recording offices for land records
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