Final answer:
A false statement regarding a material fact is known as misrepresentation.
Step-by-step explanation:
Misrepresentation refers to the act of providing false or misleading information with the intent to deceive someone. It can occur in various contexts, including business transactions, contracts, advertising, and legal matters. Misrepresentation can have legal consequences, and the severity of those consequences may depend on the nature and intent of the misrepresentation. Misrepresentation occurs when someone makes a false statement that induces another person to enter into a contract or take some other action. It is an important concept in various areas of law, including contract law and tort law.