Obie accuses Portia, a broker with QT Financial Services, of fraudulently inducing him to invest in Riske Development Company, whose stock price declines in value. The reliance that gives rise to liability for fraud requires
A. a subjective, not an objective, statement.
B. misrepresentation of a fact knowing that it is false.
C. puffery.
D. seller's talk.
Answer: B
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