answersLogoWhite

0

When misrepresentation occurs as a result of a statement made, which the inducer honestly thought was true at the time. If they find out later that it was a false statement they must inform the contracting party immediately.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

Types of misrepresentation?

fraudulent misrepresentation. negligent misrepresentation. innocent misrepresentation.


What is the difference between innocent misrepresentation and fraudulent misrepresentation?

the difference between fraudulent miisrepresentation and innocent misrepresentation is that innocent representation is when a statement is made with a genuine belief that it is true while fraudulent misrepresentation is a statement that is made with the knowledge that it is untrue or misleading.


What is the penalty for misrepresentation?

It depends on the type of misrepresentation: Innocent misrepresentation: rescission of contract and restitution if possible Negligent: rescission or possibly damages Fraudulent: damages and possibly action in tort law


Examples of misrepresentation of facts?

Examples of misrepresentation of facts Examples of misrepresentation of facts


A misrepresentation in law is?

A false statement of fact that causes an individual to enter into a contract. Must be false when statement is made. Silence, an exploitation of a fedeuciary relationship, or actively concealing the truth can also count as misrepresentation.


What is fradulent misrepresentation?

Fraudulent misrepresentation refers to a situation where one party provides false or misleading information to another party with the intent to deceive them and induce them into entering a contract or making a decision. It involves making false statements, concealing or omitting important information, or providing misleading facts in order to gain an unfair advantage. It is considered a deliberate act of dishonesty and can lead to legal consequences.


Legal definition of misrepresentation?

misrepresentation


What is negligent misrepresentation?

Misrepresentation that is the result of careless statements made.


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


How can misrepresentation affect a valid contract?

When someone is induced into entering into a contract as a result of a false statement.


What is the doctrine of misrepresentation?

A misrepresentation is an untrue statement of fact by one party which has induced the other to enter into the contract.


Under what circumstances is a contract deemed based on a fraudulent misrepresentation?

if the maker intended for the misrepresentation to induce the other party to enter the contract and if the misrepresentation would likely induce a reasonable person to so enter the contract