Question

difference between fraud and misrepresentation? subj bussiness law

Answer 1

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Fraud➖ A false representation willfully made by a party to contract in order to mislead the other party and inducing him to enter into the contract is known as fraud.

Misrepresentation➖A representation of a material fact made by a party to contract who believes it to be true, the other party relied on the statement, entered into the contract and acted upon it which later on turned out to be incorrect is known as misrepresentation. The representation is made unintentionally and unknowingly, not to deceive the other party but it became a reason of loss to the other party.