Betty ability to rescind contract depends on demonstrating

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Betty may have grounds to rescind the contract based on misrepresentation. Betty can argue that she relied on a false statement about the profit, which was a material fact in her decision to purchase the business. Her reliance on this incorrect information was reasonable given that Abner, the party with superior knowledge, provided it. Betty's ability to rescind the contract depends on demonstrating that the misrepresentation was material and induced her into the contract. Since Abner failed to correct the misrepresentation before her acceptance, Betty has grounds to rescind based on either negligent or innocent misrepresentation, depending on whether Abner should have known the true profit earlier. Betty has a strong case for rescission due to the material misrepresentation that affected her decision-making process.

Reference no: EM133856251

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