For Fraudulent Misrepresentation to Be the Basis for a Contract

question 3

True/False

For fraudulent misrepresentation to be the basis for a contract rescission,the statement of fact need not be an actual assertion.

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Definitions:

Preauthorized Payment

A prearranged payment that allows a payee to automatically withdraw funds from a payer's account as per the agreed terms, usually on a recurring basis.

Stop Payment

An instruction to a bank by an account holder not to pay or honor a check that has been issued from their account.

EFT Charges

Charges or fees associated with Electronic Funds Transfer, which is the electronic transfer of money from one bank account to another.

Unauthorized Payment

A transaction completed without the approval or consent of the account holder.