Fraudulent misrepresentation
A false statement made knowingly, without belief in its truth or recklessly, which induces another party to enter into a transaction.
Related terms
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Misrepresentation
A false statement that induces another party to enter into a contract. The legal consequences depend on how and why the statement was made.
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Guarantee agreement
A contract under which a guarantor agrees to meet another party’s obligations if that party does not do so.
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Guarantor
A person or company that promises to meet another party’s debt or obligation if the primary debtor fails to do so.
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