The director of Transatlantic Corporation issued a prospectus inviting loans from the citizens and stated that the proceeds would be judiciously deployed to extend the business and improve the buildings. But the evidence showed that the company intended to use the money to pay existing debts. The money was lent to the Company because of the statement as mentioned inside the prospectus. Required: Write your opinion whether there is a case of misrepresentation or not and justify your position
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But The Evidence Showed That The Company Intended To Use The Money To Pay ... The Money Was Lent To The Company Because Of The Statement . ... issued a prospectus inviting loans from the citizens and stated that the proceeds would be judiciously deployed to extend the business and improve the buildings.
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