Seller Smith employed Broker Jones under an open listing. While Broker Jones was discussing Smith's property with Prospective Buyer Ford, the broker indicated that the roof was in good condition and did not leak. In fact, Seller Smith had instructed Broker Jones to explain to all prospective buyers that the roof was old and would have to be replaced. After purchasing the property, Buyer Thomas discovered a severe leak in the roof. The buyer, seeking relief, would most logically sue:
A: The broker alone, for contract rescission;
B: Both the broker and the seller, for specific performance;
C: The broker alone, for damages for breach of warranty of authority;
D: The seller and the broker, for damages and fraud.
Answer: D: The seller and the broker, for damages and fraud.
Business
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Indicate whether the statement is true or false
Business
Legislation that provided for the separation of commercial banking and investment banking activities in the United States is called
a. Garn-St. Germain Depository Institutions Act b. Glass-Steagall Act c. Hunt Commission legislation d. Depository Institutions Deregulation and Monetary Control Act
Business