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1. Yes, Smith committed fraud because he stated the water on the property was mineral water that can be bottled and also that the spring produced 4,200 gallons daily. Taken in account this information, Fraud in the inducement is shown here because this information lead Brown to buy the property in hopes of making a profit out of it and soon finds out that all the information given was false. False in the inducement can be offered as a remedy that Brown can use.

2. In an action by Burns against Santos to disaffirm the contract the courts will realize that Santos has falsely represented the facts that lead to a positive statement and mislead Burns into buying the stock. In an action to recover damages based on fraud, Burns may be liable to recover the difference in which he had lost for buying the stock based on Santos knowingly wrong information just to make the sale. In an action against Alaska Uranium, Burns would not be liable to recover damages due to the fact that Alaska had no part in whether or not Burns took part in buying their stock.

3. Yes, Mario has the right because to rescind his contract because he bought a diamond ring that was suppose to have a net value of $5000 where in fact it was discovered to have been a fake diamond and worth $200. Mario is a victim of fraud in the inducement. Yes, Mario has the right to recover damages because he paid 5000 for a ring, which had a value of $200. The damages will be computed by returning the difference from $5000 and $200.

4. Harris, will not win the case because fraud does exist in this situation for the fact that “a purchaser is not bound by our laws to make the man he buys from as wise as himself.” Although Pringle did not know of the oil, he later discovered it therefore Harris was ignorant of the information and cannot take legal action due to assumption of risk.

6. This falls under mistake in meaning of terms and Jacobson has a duty to pay the tuition being that he attended the school.

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