BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The dealer was therefore able claim rescission of the contract and damages for fraudulent misrepresentation. A misrepresentation may be a statement of fact or law. A mere statement of opinion or intention will not be treated as a misrepresentation. A misrepresentation can be express or implied by words or conduct.

Detailed explanation-2: -A misrepresentation is a misrepresentation of a statement of fact, not of general opinion, it is not a contract term, it must be material, in that it influenced a person to enter in to the contract and it is false. A fact is something current and cannot be something future.

Detailed explanation-3: -There are three types of misrepresentations-innocent misrepresentation, negligent misrepresentation, and fraudulent misrepresentation-all of which have varying remedies.

Detailed explanation-4: –The term “misrepresentation of fact” means a false statement of substantive fact, or conduct that leads to a belief of a substantive fact material to proper understanding of the matter in hand, made with intent to deceive or mislead.