Which of the following terms refers to the act of misrepresenting a material fact?

The term that refers to the act of misrepresenting a material fact is "fraud." In legal contexts, fraud is defined as a deliberate deception to secure unfair or unlawful gain. It involves knowingly making false statements or concealing crucial facts to persuade another party to act in a way that results in harm or loss to them. Fraud typically requires proof of intent, demonstrating that the misrepresentation was made knowingly and with the intention to deceive.

The other options represent different legal concepts. Slander pertains specifically to making false spoken statements that damage a person's reputation, whereas negligent misrepresentation involves providing false information without exercising the appropriate level of care that a reasonable person would use, which may lead to unintentional harm. Innocent misrepresentation occurs when false statements are made without knowledge of their inaccuracy and without intent to deceive. Though these concepts are related to misrepresentation, they do not encompass the intentional deceit characteristic of fraud.