Which of the following is NOT an element of fraud?

A) Material misrepresentation.
B) Competent parties.
C) Knowledge of falsity.
D) Justifiable reliance.

Material Misrepresentation

A false statement or omission of a fact that significantly impacts another party's decision-making in a contract or legal agreement.

Justifiable Reliance

A principle in contract law requiring that a party's reliance on another's representation or promise must be reasonable and justified for it to be legally actionable.

Competent Parties

Individuals or entities that are legally capable of entering into a contract, meaning they have the mental capacity and legal authority to do so.