Final answer:
Fraud is the intentional misrepresentation of a material fact that may void a contract. It occurs when one party knowingly makes a false statement or conceals important information that induces the other party to enter into a contract.
Step-by-step explanation:
The intentional misrepresentation of a material fact that may void a contract is known as fraud. Fraud occurs when one party knowingly makes a false statement or conceals important information that induces the other party to enter into a contract. In order to prove fraud and void the contract, the party who was deceived must show that the misrepresentation was material (meaning it would have influenced their decision to enter the contract) and that it was made with the intent to deceive.