Suppose that Reed is buying a crane from Movers Inc. Reed needs a crane that will handle loads of up to 10,000 pounds. Movers' salesman tells Reed that the crane "will handle a 10,000-pound load." Relying on this statement, Reed buys the crane. Later, he discovers that the crane will only handle a 5,000-pound load. Reed wants to rescind on the basis of either fraud or misrepresentation. Movers, however, alleges that the salesman did not make a statement of past or existing fact. Is Movers correct?