Situation A: You currently own a residential home rental business. You purchase properties, fix them up, and then market them to the general public for rent. Business has been good in your local area over the years, and you are considering expansion. You start looking closer at real estate markets, consumer trends, and situations within your state, and determine to start renting properties in a college town a few miles from you. You contact a a real estate agent from the area you are looking at buying in. The agent received high ratings on online reviews, and the website states they have sold homes for 20 years. You call the agent, discuss your plans of buying 20 properties for rentals, and then schedule an appointment to meet with the agent. After looking at several homes in the area, you settle on 10 properties and make offers on the properties. All offers go through and you close on the 10 homes. The total cost for all 10 homes is $1,650,000. You use $300,000 in cash you have been saving over the years. The remaining $1,350,000 with you take a loan out, at 2.3% interest, using the homes, as well as some of your other properties, as collateral. Two weeks after placing "For Rent" signs in the lawns, and receiving inquiries into the properties, your receive notice from the city council of the new homes you purchased. According to the correspondence, residential properties within the areas of your new purchases, are not able to be rented out, due to city ordinances. Question- Defend the use of fraudulent misrepresentation for this situation. Be sure to consider all four elements