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Explain the meaning of the term "statement of fact" as used within the standard definition of an actionable misrepresentation.
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| Submitted: Mon Jun 19 2006
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1. Explain the meaning of the term "statement of fact" as used within the standard definition of an actionable misrepresentation. An action for misrepresentation is the remedy for a party who has entered into a contract in reliance on a false statement (representation) of fact on the other party; the statement may not have been incorporated in the contract as a term i.e. the statement is not part of the bargain that the parties have made. The term 'statement of fact' used within the definition of an actionable misrepresentation is made during the pre-contractual process of the negotiations by one person (representor) which induces the other party (representee) to enter into the contract. To be actionable, the statement must be one of some specific existing fact or past event. Thus the vendor who states that 'the drains are in good working order' or that 'tickets are confirmed' is...
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