BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A deceptive act done intentionally by one party in order to influence the other party to enter into the contract is known as Fraud. The representation of a misstatement, made innocently, which persuades other party to enter into the contract, is known as misrepresentation.

Detailed explanation-2: -Innocent misrepresentation is a statement of a material fact made by one party to induce a contract with another party, without the knowledge of its falsity, but with due care. The remedy is usually termination or rescission of the contract.

Detailed explanation-3: -Fraudulent misrepresentation: where a false representation has been made knowingly, or without belief in its truth, or recklessly as to its truth. Negligent misrepresentation: a representation made carelessly and in breach of duty owed by Party A to Party B to take reasonable care that the representation is accurate.

Detailed explanation-4: -Misrepresentations are false statements of truth that affect another party’s decision related to a contract. Such false statements can void a contract and in some cases, allow the other party to seek damages.