Misrepresentation versus fraudulent Misrepresentation
February 27th, 2014 by Questions
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
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February 27, 2014 at 7:42 am, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:
“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.