What are the elements of fraudulent misrepresentation and what are the legal remedies available to the wronged party?
Fraudulent misrepresentation is a type of tort in which one party makes a false statement to another party with the intent to deceive and the other party relies on that statement to their detriment. The elements of fraudulent misrepresentation are:
- A false statement of fact:Â The statement must be about a material fact, meaning that it is something that would be important to the other party in making their decision.
- Intent to deceive:Â The person making the statement must know that the statement is false or must have made the statement with reckless disregard for the truth.
- Reliance on the statement:Â The other party must have relied on the statement in making their decision.
- Detriment:Â The other party must have suffered some type of harm as a result of relying on the statement.
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