Question

QUESTION 5

With regard to the element of reliance in a fraud claim, which of the following is NOT true?

	a.	If the claim in issue was very outrageous and extravagant, the innocent party will have a harder time showing his or her reliance was justifiable.
	b.	The reliance must have been justifiable.
	c.	The innocent party does not have to prove he or she relied on the false fact; it is assumed because the fact is false.
	d.	The innocent party must prove that he or she relied and acted on the false claim.

1 points   

QUESTION 6

Which of the following is NOT true of contracts induced by fraud?

	a.	The misrepresentation must have been of a material fact.
	b.	They must have been in writing to prove fraud.
	c.	The innocent party's assent is not genuine.
	d.	They are voidable by the innocent party.

1 points   

QUESTION 7

Which of the following does NOT have to be in writing under the statute of frauds?

	a.	Agent contract to sell real property.
	b.	Executory contracts that cannot be performed within a year.
	c.	Guaranty contracts.
	d.	Sales of goods costing $300 or more.

Answer 1

Q5 The reliance must have been justifiable.

Q6 The misrepresentation must have been of a material fact

Q7 Sales of goods costing $300 or more.

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