Question

If Joe were to introduce himself as Dr. Early to sell to Gensol, knowing that people would assume that he was a medical doctor, but never tell anyone that he was, would contracts entered into be considered to be 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 not because he would have scienter.C. Probably since he is giving his opinions of the merits of Gensol.D. Probably because he would have scienter.

Answer 1

Answer:

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

Explanation:

If Joe were to introduce himself as Dr. Early to sell to Gensol, knowing that people would assume that he was a medical doctor, but never tell anyone that he was, would contracts entered into be considered to be fraudulent probably not because there is no statement of a material fact since he did not say he was a medical doctor.

contract is an agreement between two parties or entities which serves as legal protection for both parties involved in a business deal or transaction and most contract only need to contain two element to be legally valid: there must be an agreement and something of value must be exchange

Valid contract is an agreement which is binding and enforceable and for a contract to be valid it must have : specific offer, acceptance of terms and consideration.

In the scenario above Joe contracts would not be considered to be fraudulent because there was no legal stand or statement of material fact that he actually profess himself to be a Medical doctor.There his contract can not be rule out to be void or fraudulent

Answer 2

Answer:

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

Explanation:

If Joe were to introduce himself as Dr. Early to sell to Gensol, knowing that people would assume that he was a medical doctor, but never tell anyone that he was but contracts entered into be considered to be fraudulent Probably not because there is no statement of a material fact since he did not say he was a medical doctor.