According to common law, there are five conditions that must be present for an act to be deemed fraudulent. Name and explain each.

Question

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representation, meaning some misrepresentation or omission must have occurred,
material facts, meaning that the facts must influence someone's actions,
intent, meaning there must have been the intention to deceive others,
justifiable reliance, meaning it did affect someone's decision, and
injury or loss must have occurred.

According to Common Law, There Are Five Conditions That Must