1. Which of the following is NOT an element of innocent misrepresentation? A. justifable reliance. B. intent to deceive (scienter).. C. actual reliance. D. materiality 2. Larry owned a house infested with termites. He hid this fact by covering the termite damage with paneling. Curly, who never investigated the house for termite damage and never asked whether there were any termites, purchased the property. If Curly sues Larry for misrepresentation: A. Curly will only win if he proves a fiduciary relationship with Larry. B. Curly will not win because Larry's nondisclosure does not constitute an untrue assertion of fact. C. Curly will not win because Larry never made an untrue assertion of fact. D. Curly will win because Larry's concealment is an assertion of fact 3. Contracts involving fraud and misrepresentation are: A. Are valid because parties in a contract should check out all the facts before entering the contract under the theory that the party adversely affected bears the risk of the mistake. B. Actionable only if in writing. C. Are voidable. D. Are void 4. Mike innocently says that his guitar was twenty years old. In fact, the guitar was thirty-five years old. John, who bought the guitar from Mike, admits that he would have bought the. guitar so long as it was not more than fifty years old. However, John still wants to rescind the deal. Under these circumstances: A. John can rescind the contract under the theory of fraudulent misrepresentation. B. John can rescind the contract because of unilateral mistake of fact. C. John can rescind the contract under the theory of mutual mistake. D. John cannot rescind the contract because the misrepresentation was not material. 5. Today, threats to economical interests can result in a claim of duress. A. True B. False 6. Under modern contract law, the courts have increased the responsibility on a relying party to investigate the truth -of statements made to him. A. True B. False 7. Andy promises to pay Bob $100 per week, in exchange for Bob's promise not to beat Andy up. There is no consideration for Andy's promise. A.True B. False 8. A liquidated debt is a debt where there is a good faith dispute as to the existence or amount of the debt. A. True B. False 9. Promising to do something you already had a duty to do, is not consideration. A. True B. False 10. When determining whether or not undue influence is present, factors such as age, physical condition, emotional anguish or distress, etc., are not considered. A. True B. False Can you please give a small brief explanation for these questions so I can study these for my finals coming up! Thank you I appreciate it so much