Contracts
In Florida, what is the legal effect of a 'material misrepresentation' in a real estate contract?
AOnly the misrepresenting party can void the contract
BThe innocent party may void the contract and/or sue for damages✓ Correct
CThe contract becomes void automatically
DFREC automatically invalidates the contract
Explanation
A material misrepresentation of fact can make a contract voidable at the option of the innocent party. The wronged party may choose to rescind (cancel) the contract and/or sue for damages caused by the misrepresentation.
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