Choice "A" is correct. Fraud requires misrepresentation of a material fact. Ordinarily, opinions or statements of value do not constitute misrepresentations of material facts unless made by experts. Appraised value would constitute a misrepresentation of a material fact because it was made by an expert.
Choice "c" is incorrect. Fraud requires misrepresentation of a material fact. Opinions are not facts.
Choice "d" is incorrect. Predictions are not material facts but rather are mere guesses as to what the future may hold. Therefore, they cannot be the basis for fraud.
Choice "b" is incorrect. Immaterial facts cannot be the basis for a fraud defense since they are not very relevant to the contract decision-making process.
