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Question
Which of the following is most likely to constitute a misstatement that can give rise to fraud or misrepresentation liability?
A. A broker says to his client, "I think that this car's engine has been overhauled."
B. A customer sales representative of the most popular brand of car says to the customer, "This is the highest selling car in town."
C. An owner of a house gets his ceiling painted to conceal a leaking roof and says, "I got the ceiling painted recently."
D. The owner of an unencumbered horse states, "I am selling the horse to raise funds for my ranch."
Answer
This answer is hidden. It contains 214 characters.
Related questions
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Which of the following was the earliest federal legislation enacted to protect water bodies against pollution?
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The _____, enacted in 1970, required that an environmental impact statement be prepared for every recommendation or report on legislation and for every major federal action significantly affecting the quality of the environment.
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For _____, cost justification is the primary statutory defense to liability under Section 2(a) of the Robinson-Patman Act.
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Which Section of The Clayton Act originally prohibited local and territorial price discrimination by sellers?
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Which of the following requires parties to the merger agreement for planned mergers involving dollar values of stock or assets exceeding certain amounts to provide advance notice to the FTC and the Justice Department?
A. Section 7 of the Clayton Act
B. The Robinson-Patman Act
C. Section 2 of the Sherman Act
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There are three major defenses to price discrimination under the Robinson-Patman Act.
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Q:
The maximum penalty for a criminal violation of the 1933 Act is a:
A. $20,000 fine and one year imprisonment.
B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
Q:
Nast Corp. orally engaged Baker & Co., CPAs, to audit its financial statements. The management of Nast informed Baker that it suspected the accounts receivable were materially overstated. Although the financial statements audited by Baker did, in fact, include a materially overstated accounts receivable balance, Baker issued an unqualified opinion. Nast relied on the financial statements in deciding to obtain a loan from Century Bank to expand its operations. Nast has defaulted on the loan and has incurred a substantial loss. If Nast sues Baker for negligence in failing to discover the overstatement, Baker's best defense would be that:
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Q:
In which of the following contexts is a professional most likely to experience a nonclient action?
A. An accountant who prepares and audits financial statements of companies.
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C. A securities broker who provides investment advice to retail investors.
D. An attorney who advises companies on corporation and business laws.