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Can fraud only occur when there is reliance on a statement of fact?
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When might a statement of opinion form the basis of fraud?
Ordinarily, a statement of opinion made by a party typically does not form a basis for actionable fraud. An opinion in this context is best describe as a person's belief that a fact exists, a statement regarding a future event, or a judgment about quality, value or authenticity. A statement of opinion may form a basis for fraud if it is made by an expert with special knowledge, declared in a manner so as to be construed as true, there is a special relationship or trust between the parties, or some other special reason which would allow reasonable reliance on the statement as truth.
What is the difference concepts between fraudulent misrepresentation and promissory estoppell?
Promissory estoppel is enforcement of a promise even where there is no binding contract. What you must prove for promissory estoppel vairous from state ot state, but usually includes (1) A clear and unambiguous promise; (2) Reasonable reliance upon the promise; and (3) Detriment to the promisee, caused by his or her reliance on the promise, and (4) it would be inequitable, i.e., unfair, not to enforce the promise. Fraud requires the additional proof that the promisor never intended to perform when s/he made the promise. Since fraud requires the same elements PLUS this adiditonal element, it would seem that a fraud claim to enforce a promise would never succeed if a promissory estoppel does not. However, you can use fraud to get damages for a misprepresented fact that is not a promise. A fact might mean a statement that certian facts exist. This type of fraud requires you to prove that a defendant made a false statement of fact, intending you to rely on it - or ought to have expected that you would rely on it - and you reasonably relied ot your detriment. (F
Which of the following is not an element of fraud a. Scienter b. Misrepresentation of a material fact c. Justifiable reliance by the innocent party d. Ignorance of the law?
d. ignorance of the law d. ignorance of the law
State two 02 requirements which make the misrepresentation actionable?
For a representation to be actionable: 1) It must be a false statement of fact or law (not a mere puff, statement of opinion or statement of intention) from the misrepresentor 2) The misrepresentee must have placed reliance on the misrepresentation 3) It is the misrepresentation that induced him into the contract
Does fraud require a misstatement of either a fact or opinion?
No. Fraud requires a misstatement of fact. Opinion doesn't enter into it.
Is puffery fraud?
"Puffery is seller's talk--the seller's opinion that his or her goods are, for example, the "best." For fraud to occur, there must be a misrepresentation of a fact . " [https://dl.ivytech.edu/webapps/portal/frameset.jsp?tab_id=_2_1&url=%2fwebapps%2fblackboard%2fexecute%2flauncher%3ftype%3dCourse%26id%3d_421944_1%26url%3d] No, Puffery is not fraud.
What is the accepted statement of fact?
A postulate or axiom is an accepted statement of fact.
What is the difference between fact and independence?
A fact is a statement that can be proven to be true or false based on evidence, while independence refers to the state of being self-sufficient or free from outside control. Facts are objective and verifiable, while independence is a concept related to autonomy and self-reliance.
What is legal ramification for alterning legal document?
If you change a material fact (any statement that can be confirmed or refuted) and attempt to pass the document off as fact then you are guilty of fraud. You could also be guilty of identity theft, deception, coersion, false pretenses..... Don't do it.
Is a license obtained by fraud valid?
No, it is not valid and is, in fact, illegal.
Justifiably vs actual reliance?
Actual reliance is when the party acts or refrains from acting due to another person's misrepresentation of a material fact. Justifiable reliance is the party who is relying on the misstatement has the right to rely on it. (for exp. they have peculiar knowledge on the issue at hand) .
What statement is a fact?
For a phrase to be a statement it needs to be true or false by all readers. 'The painting is beautiful' is an opinion and not a statement. For a statement to be considered a fact it must be true. 2+3 = 6 is a statement but not a fact. When you get applying this to real world situations this can be tricky. It is not a fact that smoking will give you cancer (since you may smoke and not get it) but it is a fact that the surgeon general says that smoking increases your risk in getting cancer.
