Scienter is the element of fraud that requires that the misrepresentation must have been known by the one making it to be false and must have been made with an intent to deceive.

Scienter

Knowledge of wrongdoing or fraudulent intent in the commission of an act, especially a key element in certain legal proceedings.

Fraud

is the intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Misrepresentation

The act of giving false or misleading statements that induce someone into a contract, which can be grounds for voiding the agreement.