Differentiate between fraud and misrepresentation-01133
This subjective question is related to the book/course
vu eco402 Microeconomics.
It can also be found in
vu eco402 Mid Term Solved Past Paper No. 1.
Question 1: Differentiate between fraud and misrepresentation?
Answer:
Fraud:
Fraud is something which is done in order to deceive someone. It involves making false statement with the intention to deceive someone. A person knows that a statement or belief is false but he makes a false statement purposely in order to deceive other person.
Misrepresentation
Misrepresentation is making false statement without the intention of deception. A person positively states that a fact is true but in reality the fact is not true. He makes a false statement but there is no intention of deception because the person himself does not know about the fact that he stated is false.
