Which of the following is true of misrepresentation?
A) A misrepresentation is not actionable unless the innocent party relied on the misrepresentation and acted on it.
B) An innocent party who acts in reliance on a misrepresentation need not justify his or her reliance.
C) An innocent party must prove that the wrongdoer's misrepresentation was the sole reason he or she entered into the contract.
D) An innocent party need not prove economic injury to recover damages for fraud.
A
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The Organization for Economic Cooperation & Development (OECD) cautions that economic reforms have stagnated and ranks Russia as one of the most corrupt countries in the world
Indicate whether the statement is true or false
For noncarrier deliveries, if the seller or lessor has no place of business, the place of delivery is the seller's or lessor's residence
Indicate whether the statement is true or false
Veronica was offered a loan using the discount method of calculation by her bank. She will borrow $10,000 for one year at an APR of 11%. How large will the check be that Veronica receives? How much must she repay?
A) $11,100; $11,100 B) $10,000; $11,100 C) $8,900; $11,100 D) $8,900; $10,000 E) None of the above is correct.
Oriole, Inc. decided to liquidate its wholly-owned subsidiary, Tiger Corporation. Tiger had the following tax accounting balance sheet. FMV Adjusted basis AppreciationCash$400,000 $400,000 Building100,000 20,000 80,000Land300,000 180,000 120,000Total$800,000 $600,000 $200,000 a. What amount of gain or loss does Tiger recognize in the complete liquidation?b. What amount of gain or loss does Oriole recognize in the complete liquidation?c. What is Oriole's tax basis in the building and land after the complete liquidation?
What will be an ideal response?