Chapter 14 - Chapter 14 continued 1. Misrepresentation has...

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Chapter 14 continued 1. Misrepresentation has occurred a. Misrepresentation can be express or implied b. Needs to be a fact material to the contract c. Misrepresentation of future facts and statements of opinion are not fraud, unless person professes to be an expert. d. Misrepresentation of the law is NOT fraud, unless person has greater knowledge of the law. e. Silence is not fraud, unless serious problem or defect known or asked and person lied. 2. Intent to Deceive a. Scienter is intent to deceive i. Party knowledge that fact is not as stated. ii. Party makes a reckless statement with disregard of the truth 1. Ex. Car salesman lying about a car not being 6 cylinder iii. Party implies that statement is based on personal knowledge or investigation b. Gross negligence (not intentional) is considered intent. i. A duty ii. Breach iii. Causation iv. Damages 3. Reliance of misrepresentation a. Deceived party must have justifiable reliance i. Depends on the knowledge and experience of the party relying
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This note was uploaded on 12/02/2010 for the course GBA 362 taught by Professor Roberson during the Spring '10 term at Sam Houston State University.

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Chapter 14 - Chapter 14 continued 1. Misrepresentation has...

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