CA Foundation Exam > CA Foundation Questions > Which of the following statements is false?a)...
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Which of the following statements is false?
- a)A contract is not voidable if fraud or misrepresentation does not induce the other party to enter into a contract.
- b)A party cannot complain of fraudulent silence or misrepresentation if he had the means of discovering the truth with ordinary means.
- c)In case of fraud or misrepresentation, aggrieved party can either rescind or affirm the contract.
- d)A party who affirms the contract, can also change his option afterwards if he so decides.
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Which of the following statements is false?a)A contract is not voidabl...
False Statement:
The false statement is D: A party who affirms the contract can also change his option afterwards if he so decides.
Explanation:
To understand why statement D is false, let's break down each statement and analyze them:
A: A contract is not voidable if fraud or misrepresentation does not induce the other party to enter into a contract.
- This statement is true. For a contract to be voidable due to fraud or misrepresentation, it must have induced the party to enter into the contract.
B: A party cannot complain of fraudulent silence or misrepresentation if he had the means of discovering the truth with ordinary means.
- This statement is true. If a party had the means to discover the truth through ordinary means but failed to do so, they cannot later complain of fraudulent silence or misrepresentation.
C: In case of fraud or misrepresentation, the aggrieved party can either rescind or affirm the contract.
- This statement is true. When fraud or misrepresentation occurs, the aggrieved party has the option to either rescind (cancel) the contract or affirm it (continue with the contract).
D: A party who affirms the contract can also change his option afterwards if he so decides.
- This statement is false. Once a party affirms the contract after discovering fraud or misrepresentation, they cannot change their option afterwards. Affirming the contract means they have chosen to continue with it despite the fraudulent act.
In conclusion, the false statement is D: A party who affirms the contract can also change his option afterwards if he so decides.
The false statement is D: A party who affirms the contract can also change his option afterwards if he so decides.
Explanation:
To understand why statement D is false, let's break down each statement and analyze them:
A: A contract is not voidable if fraud or misrepresentation does not induce the other party to enter into a contract.
- This statement is true. For a contract to be voidable due to fraud or misrepresentation, it must have induced the party to enter into the contract.
B: A party cannot complain of fraudulent silence or misrepresentation if he had the means of discovering the truth with ordinary means.
- This statement is true. If a party had the means to discover the truth through ordinary means but failed to do so, they cannot later complain of fraudulent silence or misrepresentation.
C: In case of fraud or misrepresentation, the aggrieved party can either rescind or affirm the contract.
- This statement is true. When fraud or misrepresentation occurs, the aggrieved party has the option to either rescind (cancel) the contract or affirm it (continue with the contract).
D: A party who affirms the contract can also change his option afterwards if he so decides.
- This statement is false. Once a party affirms the contract after discovering fraud or misrepresentation, they cannot change their option afterwards. Affirming the contract means they have chosen to continue with it despite the fraudulent act.
In conclusion, the false statement is D: A party who affirms the contract can also change his option afterwards if he so decides.
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Which of the following statements is false?a)A contract is not voidabl...
Understanding the Correct Answer: Option D
The statement in option D is false, and it is essential to understand why that is the case.
Affirmation of a Contract
- When a party affirms a contract despite being aware of fraud or misrepresentation, they essentially choose to continue with the agreement.
- Affirmation signifies acceptance of the contract's terms and conditions, and it typically waives the right to rescind based on the prior misrepresentation or fraud.
Changing Options Post-Affirmation
- After affirming the contract, the party cannot later change their mind and claim they want to rescind the contract based on the same fraudulent circumstances.
- This principle is rooted in the idea that once a party has made an informed choice to affirm the contract, they are legally bound by that decision.
Legal Implications
- Allowing a party to change their mind after affirming would undermine the stability and predictability that contracts are supposed to provide.
- It would create an environment where parties can manipulate agreements to their advantage, thereby eroding trust in contractual relationships.
Conclusion
- Therefore, option D is false because once a party affirms a contract, they cannot retroactively change their decision to rescind it later.
- The legal principle emphasizes the importance of finality in contractual agreements, ensuring that parties are held to their decisions once made.
The statement in option D is false, and it is essential to understand why that is the case.
Affirmation of a Contract
- When a party affirms a contract despite being aware of fraud or misrepresentation, they essentially choose to continue with the agreement.
- Affirmation signifies acceptance of the contract's terms and conditions, and it typically waives the right to rescind based on the prior misrepresentation or fraud.
Changing Options Post-Affirmation
- After affirming the contract, the party cannot later change their mind and claim they want to rescind the contract based on the same fraudulent circumstances.
- This principle is rooted in the idea that once a party has made an informed choice to affirm the contract, they are legally bound by that decision.
Legal Implications
- Allowing a party to change their mind after affirming would undermine the stability and predictability that contracts are supposed to provide.
- It would create an environment where parties can manipulate agreements to their advantage, thereby eroding trust in contractual relationships.
Conclusion
- Therefore, option D is false because once a party affirms a contract, they cannot retroactively change their decision to rescind it later.
- The legal principle emphasizes the importance of finality in contractual agreements, ensuring that parties are held to their decisions once made.
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Which of the following statements is false?a)A contract is not voidable if fraud or misrepresentation does not induce the other party to enter into a contract.b)A party cannot complain of fraudulent silence or misrepresentation if he had the means of discovering the truth with ordinary means.c)In case of fraud or misrepresentation, aggrieved party can either rescind or affirm the contract.d)A party who affirms the contract, can also change his option afterwards if he so decides.Correct answer is option 'D'. Can you explain this answer?
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