Asked by Crystal Weaver on May 16, 2024
Verified
Which of the following statements,if false,is most likely to create liability for fraud or misrepresentation?
A) "This rare antique chair is probably worth $10,000."
B) "This crane will lift a 10,000-pound load."
C) "This car is a perfect gem."
D) "In my opinion,this car is in flawless mechanical condition."
Liability
The legal responsibility for one's actions or the obligation to compensate for harm or losses caused to another party.
Fraud
The intentional deception or dishonesty by an individual or entity, with the purpose of gaining some unfair or unlawful advantage or causing some unjust loss or harm to another party.
Misrepresentation
The act of providing false, misleading, or incorrect information, intentionally or negligently, during a transaction or contract.
- Understand materiality in misrepresentation cases and its significance in inducing contract formation.
Verified Answer
Learning Objectives
- Understand materiality in misrepresentation cases and its significance in inducing contract formation.
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