Kahn of Portland Oregon sent a letter to Lischner of Los Angeles inquiring whether Kushner’s property in Humboldt County was for sale. Lischner replied that he was interested in selling and asked Kahn about the fair market value. Kahn wrote that it was difficult to make an offer without a legal description of the property and asked for it and the annual taxes. These were provided by Lischner. Subsequently, Kahn wrote, "I hesitate to place a value on someone else’s property, but I can tell you that I have been offered a similar track of property for $2,000. Since your property is closer to mine, I would prefer to buy yours, and offer a four-year term contract at a total price of $2,500." The two parties ultimately agreed on a cash price of $2,500. Shortly after contracting with Kahn, Lischner went to Humboldt county and readily learned, upon the most superficial inquiry that the property was worth more than $2,500. He sold the property to Pacoima Lumber Sales, Inc. for $7,500. Thereupon, Kahn sued Lischner for $5,000. Lischner responded that he had been induced to contract by a fraudulent misrepresentation as to the value of the property by Kahn and therefore could rescind their contract of sale.What are the elements that must be present for fraudulent misrepresentation? Did Kahn commit fraud? Why, or why not.

Question

24-06-2020
Business

contestada

Kahn of Portland Oregon sent a letter to Lischner of Los Angeles inquiring whether Kushner’s property in Humboldt County was for sale. Lischner replied that he was interested in selling and asked Kahn about the fair market value. Kahn wrote that it was difficult to make an offer without a legal description of the property and asked for it and the annual taxes. These were provided by Lischner. Subsequently, Kahn wrote, "I hesitate to place a value on someone else’s property, but I can tell you that I have been offered a similar track of property for $2,000. Since your property is closer to mine, I would prefer to buy yours, and offer a four-year term contract at a total price of $2,500." The two parties ultimately agreed on a cash price of $2,500. Shortly after contracting with Kahn, Lischner went to Humboldt county and readily learned, upon the most superficial inquiry that the property was worth more than $2,500. He sold the property to Pacoima Lumber Sales, Inc. for $7,500. Thereupon, Kahn sued Lischner for $5,000. Lischner responded that he had been induced to contract by a fraudulent misrepresentation as to the value of the property by Kahn and therefore could rescind their contract of sale.What are the elements that must be present for fraudulent misrepresentation? Did Kahn commit fraud? Why, or why not.

Respuesta :

Otras preguntas

Description Explain three pieces of evidence that were used to close the case against the serial killer.

Q3. Regression Based on the market research, ABC Company found two factors: 1) household income, and 2) population will affect car sales. The company has collec

Determine whether y = 3 cos 2x is a solution of y" +12y=0.

Categorize each statement as true or false. :: Magnetic fields are stronger closer to magnets and weaker farther away. :: Magnetic field lines are tangential to

The terminal side of angle 8 in standard position goes through the point (-15,-11). Find the values of the six trigonometric functions of B. Please round your a

compute the income tax payable for Ernest and valerie Ernest and his wife,Valerie are resident in Malaysia in the year 2018.The total income and contribution to

A salesperson contacts eight potential customers per day. From past experience, we know that the probability of a potential customer making a purchase is 0.10.

Table 11-1 Consider the town of Springfield with only three residents, Sophia, Amber, and Cedric. The three residents are trying to determine how large, in acre

which is true about arrays and methods?a.arrays cannot be passed to methodsb.passing an array to a method creates a copy of the array within the methodc.an arra

question 7 mateo carefully plans his exercise routine for the coming week, writing down exactly what he intends to do each day. mateo is making use of personal

anthougo anthougo · Answer 1 · 2020-06-25T02:45:15+02:00

Answer:

Misrepresentation & Fraud:

a) Elements for Fraudulent Misrepresentation:

1) A representation was in fact made: This means that it was not just a mere opinion expressed by the party misrepresenting.

2) That particular representation was false: The statement made was untrue.

3) The defendant had knowledge that the representation was false: The misrepresentation was intentional on the party of the defendant.

4) The statement was made with the intention that the other party rely on it and enter into a contract or agreement: The defendant was out to induce the other party to enter the contract.

b) Kahn committed a fraud since he intentionally induced Lischner to contract on the basis of fraudulent misrepresentation. The remedy available for Lischner is to rescind the contract.

Explanation:

a) Fraudulent misrepresentation is the presentation of false facts by someone who attempts to persuade another into action with the intent to deceive. The remedy available to the deceived party is to rescind the contract or to plea for damages.

b) According to the britannica.com, "Fraud, in law, is the deliberate misrepresentation of fact for the purpose of depriving someone of a valuable possession."