Asked by Anissa Hoyte on Jun 17, 2024
Verified
To obtain relief for negligent or innocent misrepresentation, the elements of fraud must be present but the misrepresentation need not be material.
Negligent Misrepresentation
The act of unintentionally providing false information that others rely upon, leading to financial loss or damage.
Elements Of Fraud
Elements of Fraud include the intentional misrepresentation or concealment of an important fact upon which the victim is meant to rely, and does rely, resulting in harm to the victim.
Material
Refers to the physical substances or components that are used to make or build something.
- Learn to recognize and categorize distinct forms of misrepresentations and understand the prerequisites for their resolution.
- Recognize the significance of materiality in misrepresentations.
Verified Answer
Learning Objectives
- Learn to recognize and categorize distinct forms of misrepresentations and understand the prerequisites for their resolution.
- Recognize the significance of materiality in misrepresentations.
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