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B is corrent. Under innocent misrepresentation a contract is voidable by one party if the other party has misrepresented a material fact. The party voiding the contract need only prove that a misrepresentation has been made. There is no need to prove scienter on the part of the other party. Under common law fraud the party voiding the contract must prove that the misrepresentation was made with actual or constructive knowledge that it was false (scienter).
A is incorrect. An action based on either innocent misrepresentation or common law fraud requires proof that a false representation has been made.
C is incorrect. Both actions require the party to prove that there was reasonable reliance on the misstatement. One who knows the truth or who may have learned it by reasonable inquiry may not recover under either action.
D is incorrect. Both actions require that the misrepresentation be of a material fact.