Would contracts entered into be considered fraudulent

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Reference no: EM131738247

1) If Joe introduces himself as Dr. Early to sell to Gensol, knowing that people will assume that he was a medical doctor, but he never tells anyone that he is, would contracts entered into be considered fraudulent?

A) Probably not, because there is no statement of a material fact since he did not say he was a medical doctor.

b) Probably, because he would have scienter.

c) Probably not, because he would have scienter.

d) Probably, since he is giving his opinions of the merits of Gensol.

2) If a court was to consider whether Joe (or Pharzime) committed fraud in their contracts, what of the following elements would not need to be proven?

A) scienter

B) damages

c) justifiable reliance

d) false representation

3) If a court found that Joe (or Pharzime) committed fraud in inducement to their contracts, to what remedy or remedies is the aggrieved party entitled?

A) restitution

b) rescission

C) rescission and damages, if out of pocket expenses were incurred as a result of the fraud

d) ratification of the contract

Reference no: EM131738247

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