Misrepresentation versus fraudulent Misrepresentation
Can you explain the difference between fraudulent misrepresentation and misrepresentation, my understanding is the latter gets expunged through bankruptcy, but the former does not.
Posted from: Alberta
“Misrepresentation may be fraudulent, innocent or negligent.” The elements of a false misrepresentation (which does not get discharged in bankruptcy) are the existence of a representation; that the representation was false; that the bankrupt knew the representation was false and intended the creditor to act on it so as to enable the credit sought; and that the creditor did rely on the false representation and extend credit.