1. In which of the situations below does contract law provide a remedy?(choose 2) Which of these situations involve a valid contract?

• Trading stocks based on insider information
• False statements made during contract negotiations
• One company loses sales of its product due to competition from another company's product, which is misleadingly advertised
• A store sells a customer a cell phone, which both the store and the customer honestly believe is brand new; in fact, the phone has been used previously for four months by an employee of the phone manufacturer
• One party's failure to turn over all relevant information in its possession to the other side during a contract negotiation