Carver is a chemical engineer. She has no interest in or connection with Chemco. Carver noticed that Chemco's most recent publicly issued financial statement listed, as part of Chemco's assets, a large inventory of a certain special chemical compound. This asset was listed at a cost of $100,000, but Carver knew that the ingredients of the compound were in short supply and that the current market value of the inventory was in excess of $1,000,000. There was no current public quotation of the price of Chemco stock. The book value of Chemco stock, according to the statement, was $5 a share; its actual value was $30 a share. Knowing these facts, Carver offered to purchase from Page at $6 a share the 1,000 shares of Chemco stock owned by Page. Page and Carver had not previously met. Page sold the stock to Carver for $6 a share. If Page asserts a claim based on misrepresentation against Carver, will Page prevail?
Yes, because Carver knew that the value of the stock was greater than the price she offered.  Yes, if Carver did not inform Page of the true value of the inventory.  No, unless Carver told Page that the stock was not worth more than $6 a share.  No, if Chemco's financial statement was available to Page
Question: Carver is a chemical engineer. She has no interest in or connection with Chemco. Carver noticed that Chemco's most recent publicly issued financial statement listed, as part of Chemco's assets, a large inventory of a certain special chemical compound. This asset was listed at a cost of $100,000, but Carver knew that the ingredients of the compound were in short supply and that the current market value of the inventory was in excess of $1,000,000. There was no current public quotation of the price of Chemco stock. The book value of Chemco stock, according to the statement, was $5 a share; its actual value was $30 a share. Knowing these facts, Carver offered to purchase from Page at $6 a share the 1,000 shares of Chemco stock owned by Page. Page and Carver had not previously met. Page sold the stock to Carver for $6 a share. If Page asserts a claim based on misrepresentation against Carver, will Page prevail?
A. Yes, because Carver knew that the value of the stock was greater than the price she offered. 
B. Yes, if Carver did not inform Page of the true value of the inventory. 
C. No, unless Carver told Page that the stock was not worth more than $6 a share. 
D. No, if Chemco's financial statement was available to Page
Answer: