Asked by Bui Huyen Trang (K13_HN) on Jul 13, 2024
Verified
In selling a 300-acre tract to Organic Farm, Peyton tells the buyer that the land "will be worth twice as much by next year." This statement is not likely to support rescission of the contract because it is
A) a material fact.
B) a misrepresentation.
C) a mistake.
D) an opinion.
Rescission
The process of revoking, cancelling, or repealing a contract, returning all parties involved to their positions prior to the agreement.
Opinion
A statement by a court expressing the reasons for its decision in a case.
- Comprehend the legal criteria for depending on statements and representations within contractual agreements.
- Comprehend the distinctions between error in value and error in fact within the context of disagreements over contracts.
Verified Answer
SA
Sofia Arashiro - GarciaJul 14, 2024
Final Answer :
D
Explanation :
This statement is considered an opinion rather than a factual claim, as it is speculative and pertains to future value, which cannot be guaranteed.
Learning Objectives
- Comprehend the legal criteria for depending on statements and representations within contractual agreements.
- Comprehend the distinctions between error in value and error in fact within the context of disagreements over contracts.