Is A False Statement About A Fact Material To An Agreement That The Person Who Made The Statement Believed To Be True?

Misrepresentation

is a false statement by a party about a material fact.

Is a false statement of material fact made by a party who thinks it is true but who would have known the truth about the fact had he or she used reasonable care to discover or reveal it?

: One party makes up a statement of material fact that he thinks is true, if he could have known the truth by using reasonable care to discover or reveal it, the his statement is

a negligent misrepresentation

.

What is a false representation of a material fact that is consciously false and intended to mislead the other party?

A ______ is a false representation of a material fact that is consciously false and intended to mislead the other party.

Fraudulent misrepresentation

.

What are the 3 types of misrepresentation?

There are three types of misrepresentations—

innocent misrepresentation, negligent misrepresentation, and fraudulent misrepresentation

—all of which have varying remedies.

When the party making the statement would have known the truth about the fact had he used reasonable care to discover or reveal it the statement is a N _____ quizlet?

3.

A negligent misrepresentation

results when the party making the statement would have known the truth about the fact had she used reasonable care to discover or reveal it.

What is the effect of a negligent misrepresentation?

What is the effect of negligent and fraudulent misrepresentation?

The party can either rescind (cancel) the contract or keep the contract and sue

.

What is the essential difference between duress and undue influence?

The defense of duress exists to protect against contracts that are obtained by some type of threat or coercion. The defense of undue influence

exists for a more specialized role

, to protect against assent obtained by unfair persuasion.

Can you go to jail for misrepresentation?

4.1. The different offenses of Welfare and Institutions Code 10980, California’s welfare fraud

How do you prove misrepresentation?

1. A representation was made. …
2. The claim was false. …
3. The claim was known to be false. …
4. The plaintiff relied on the information. …
5. Made with the intention of influencing the plaintiff. …
6. The plaintiff suffered a material loss.

What is an example of innocent misrepresentation?

Innocent misrepresentation examples include

a seller unknowingly offering defective merchandise

, or if a person on Craigslist sells a used TV but does not know it’s broken. Misrepresentation is a legal term meaning a false statement that has an impact on a contract.

Which of the following is an example of misrepresentation?

In a fraudulent misrepresentation, a party makes a false claim regarding a contract or transaction but knows it isn’t true. For example, if a

person is selling a car and knows there is a problem with the transmission

, yet advertises it in perfect mechanical condition, they have committed fraudulent misrepresentation.

Which of the following is true when there is a mutual mistake in a contract?

Which of the following is true when there is a mutual mistake in a contract?

When both parties to a contract are mistaken about either a current or a past material fact, only the offeror can rescind the contract.

What is the effect of a negligent misrepresentation quizlet?

-one party makes a material fact that he thinks is true. -The effect of negligent misrepresentation and a fraudulent misrepresentation is that

the victim can either rescind the contract or keep the contract and sue for damages

, whereas if the mistake is innocent, the victim can seek only rescission.

What does the legal say about misrepresentation?

Under contract law, a plaintiff can recover compensatory damages against a defendant when a court finds that the defendant has committed fraudulent misrepresentation. … that when made,

the defendant knew that the representation was false or that the defendant made the statement recklessly without knowledge of its truth

.

How do you prove innocent misrepresentation?

1. The defendant made a representation (statement) of one or more facts that are material to the contract’s subject matter;
2. The representation was done in connection with contract formation between the parties;

What are the remedies for misrepresentation?

Depending on the nature of the case, remedies for fraudulent misrepresentation can include

rescission of the contract and damages

. Rescission of the contract is the most common remedy, since fraudulent misrepresentation renders it voidable (as opposed to simply “void”).