BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All but which of the following are needed to void a contract due to fraudulent misrepresentation?
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there was an intent to deceive another
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the misrepresentation of a material fact was made
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the injured party relied upon the misrepresented fact
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all of the above are needed
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Explanation:
Detailed explanation-1: -The elements are: (1) The defendant made a false representation of a past or existing material fact susceptible of knowledge. (2) The defendant did so knowing the representation was false, or without knowing whether it was true or false.
Detailed explanation-2: -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.
There is 1 question to complete.