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:

Skin Color

The pigmentation of someone's skin, primarily determined by genetic inheritance and exposure to the sun, which has historically been used as a basis for social classification and discrimination.

English Common Law

A legal system originated in England, characterized by the development of law through judicial decisions and precedents, forming the basis of the legal system in England and many countries that were once British colonies.

Sugar

A sweet-tasting, soluble carbohydrate found in many plants, extensively used as a sweetener in food and beverages.

Slave Trade

The buying, transporting, and selling of human beings as slaves, specifically the transatlantic slave trade which forcibly brought Africans to the Americas from the 16th to the 19th centuries.