In Order for Fraud Liability to Arise, the Listener Must

question 3

True/False

In order for fraud liability to arise, the listener must actually rely on the false statement of fact.

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Definitions:

Conditional Estate

An interest in property that is dependent on the occurrence or non-occurrence of a specified condition.

Life Estate

A legal right to use and derive benefit from property for the duration of one's life, without ownership transferring until after death.

Mineral Rights

The legal rights to exploit and use minerals found beneath the surface of a parcel of land, which can be separated from the land's surface rights.

Water Rights

The legally granted permission to use water from a river, stream, or other body for designated purposes.