Answer:
Yes,it is a classic case of fraud as Thomas owes the buyer a duty of disclosure of material facts
Explanation:
Fraud
This is simply defined as act of deception. It is an act carried intentional by an individual to get an unfair advantage over another person.
The deceptive trade practices act
This is simply a federal law set up by government. It watches over business, making sure that fraud and misrepresentation do not take place when companies provide products and services.
In real estate, the seller required to tell the buyer about the property's condition and nothing should be left Thomas is guilty of fraud for covering up and not disclosing all conditions or state of the property.
The tests for disclosure outlined by the courts includes
1. The seller must not obstruct the buyer's attempts to inspect the property. The "as is" clause must be an important element of the contract.
2. The buyer and seller must not be in a relatively unequal bargaining position
All known defects must be disclosed by the seller
The strong economic growth , full employment, and price stability in the late 1990s and early 2000s in U.S. can be explained by "rightward shift of aggregate demand and a leftward shift of aggregate supply".
<h3>What is
rightward shift of aggregate demand and a
leftward shift of aggregate supply?</h3>
The rightward shift and leftward shift according to aggregate demand curve are-
- As the components of aggregate demand—consumption spending, investment spending, government spending, and spending on exports minus imports—increase, the aggregate demand curve moves to the right.
- As the cost of essential inputs increases, the aggregate supply curve moves to the left, creating the potential for reduced output, increased unemployment, and higher inflation. Stagflation is the term used to describe an economy that is both experiencing slow growth and high inflation.
he possible reason for the surge of economic growth are-
Therefore, the possible causes of the economic boom include the fact that oil prices were exceptionally low in the mid to late 1990s (the lowest levels since the post-World War II boom), which would have decreased the cost of transportation and manufacturing and boosted economic growth.
To know more about aggregate demand curve, here
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<span>If nominal Gdp
= $4.5 trillion and the
Gdp deflator is 150, then real Gdp is equal to 3 trillion. </span><span>According to
investopedia, “GDP stands for gross domestic product and is the measure of the
total economic output of the goods and services of a country. GDP is usually
expressed on an annual basis, but is sometimes expressed on a quarterly basis
within a year”. While Real GDP is defined as “equal to the economic output adjusted for the
effects of inflation. Nominal GDP is economic output without the inflation adjustment”.Lastly,
Nominal GDP is defined as usually higher than real GDP because inflation is
typically a positive number. Nominal GDP is used when comparing different
quarters of output within the same year. When comparing the GDP of two or more
years, real GDP is used because, by removing the effects of inflation, the
comparison of the different years focuses solely on volume. </span>
Answer:
b. does not relieve Bill of the potential obligation to perform.
Explanation:
An obligation is a legal bond (vinculum iuris) by which one or more parties (obligants) are bound to act or refrain from acting.
An obligation thus imposes on the obligor a duty to perform, and simultaneously creates a corresponding right to demand performance by the obligee to whom performance is to be tendered
<span>7 bones is the answer </span>
