Question $18$

$1pts$

During negotiations for the purchase of real estate, a seller of real estate makes a fraudulent misrepresentation about the property but the buyer knows the misrepresentation is not true. Most people, however, would probably believe the seller's misrepresentation. Although the seller and buyer reach a final written agreement for the buyer to purchase the real estate, the buyer later decides it does not want to purchase the property. Can the buyer rescind the agreement based on a misrepresentation?

Yes, but only if the misrepresentation was in writing.

Yes, but only if most people would rely on this type of misrepresentation.

Yes, because the seller committed fraud.

No$,$ because the buyer did not actually rely on the misrepresentation.