Scienter Is the Element of Fraud That Requires That the Misrepresentation

question 36

True/False

Scienter is the element of fraud that requires that the misrepresentation must have been known by the one making it to be false and must have been made with an intent to deceive.

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Definitions:

Public Schools

Educational institutions funded and controlled by the government, providing free education to students.

Public Education

An education system funded and administered by the government, providing free education to the public from primary to secondary levels.

Private Schools

Educational institutions not administered by governments but rather run by private individuals or organizations, often charging tuition.

Johnson-Reed Act

A U.S. federal law enacted in 1924 that aimed to limit immigration by establishing national quotas that discriminated against immigrants from Eastern and Southern Europe and virtually excluded Asians.