If a party to an existing contract discovers he or she had made an incorrect statement during the contract negotiations,then he or she should
A)rescind the contract immediately.
B)declare the contract voidable at the option of the other party.
C)call his or her lawyer before he or she is sued for negligent misrepresentation.
D)inform the other party of the true situation as soon as possible.
E)offer to make allowances for any misunderstandings.

Question

Quizplus · Accepted Answer

It is important for the party to inform the other party of the true situation as soon as possible to resolve any misunderstandings and maintain a good relationship between the parties. The other options may not be necessary or appropriate in this situation.

If a Party to an Existing Contract Discovers He or She