BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Deliberate false representation or concealment of a material fact, which is meant to and which does induce another to make an unfavorable contract.
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duress
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undue influence
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fraudulent misrepresentation
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mutual mistake
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Explanation:
Detailed explanation-1: -Fraud is the intentional misrepresentation or concealment of a material fact that results in financial or other damages to another party.
Detailed explanation-2: -➢ fraud→the deliberate misrepresentation or concealment of a material fact. ➢ All the elements of misrepresentation untrue statement of fact, materiality, reasonable reliance must be proven or there is no fraud.
Detailed explanation-3: -A misrepresentation is a false statement of a material fact made by one party which affects the other party’s decision in agreeing to a contract. If the misrepresentation is discovered, the contract can be declared void. Depending on the situation, the adversely impacted party may seek damages.
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