Question
A person who has been induced to enter into a contract
by misrepresentation has the following remediesSolution
Contract Remedies of Misrepresentation As we know the contract made in misrepresentation is voidable which is not done intentionally by the party. So by keeping this in mind, The remedies for misrepresentation are: •     Rescind: Rescind means to cancel. When the aggrieved party wants, he can claim for cancellation of the contract and/or damages. Under contract law, rescission is defined as the unmaking of a contract between the parties. Rescission is the unwinding of a transaction. This is made to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the status quo ante). •   Insist upon the performance: The aggrieved party can claim to the first party who have committed misrepresentation to get the object in the manner which was prior to the contract that they directly.
Information for pricing decision involves
The goods whose demand is not tied with the demand for some other goods are said to haveÂ
A rightward shift in supply curve indicates
A high value of cross-elasticity indicates that the two commodities are
Movement along a demand curve as a result of change in price is known asÂ
Market with one buyer and one seller is called
In a typical demand schedule, quantity demanded varies
Â
The above curve is a
Demand analysis includesÂ
If the firms under perfect competition have different costs, abnormal profits can be earned in the long run only by