Final answer:
The question deals with a potential case of misrepresentation where a buyer conceals information about a property's value from the seller. This can lead to a claim of fraud in contract law.
Step-by-step explanation:
The scenario described presents an issue where Laura knows about the historical significance that increases the value of Nico's building due to its association with Elvis. Despite Nico's suspicion and direct questioning, Laura refrains from disclosing this crucial information, which could amount to a misrepresentation of fact in the context of contract law. Misrepresentation in such a case could potentially lead to a claim of fraud if it is established that Laura intentionally concealed this fact to induce Nico into selling the property at a lower value than its actual worth.