BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A concealment can occur through either purposeful misrepresentation or withholding of material facts. Where the information could not have been known by the other party and it is known to be material by the concealing party, the concealment can give grounds for nullifying the contract.

Detailed explanation-2: -Fraudulent Misrepresentation Defined Fraudulent misrepresentation is a civil action arising under contract law. It involves a misrepresentation, false statement of fact, and/or omission that causes the victim to enter into a contract and incur damages.

Detailed explanation-3: -Active concealment and passive concealment of facts differ from each other. Passive concealment means mere silence regarding the material facts, whereas active concealment is to hide a material fact which eventually leads to fraud.

Detailed explanation-4: -There are three types of misrepresentations-innocent misrepresentation, negligent misrepresentation, and fraudulent misrepresentation-all of which have varying remedies.