Fraudulent Misrepresentation. Charter One bank owned a fifteen-story commercial building. A fire inspector identified a number of defects in the building's drinking water and fire-suppression systems. Without disclosing this information, Charter sold that building to Northpoint properties, Inc. Northpoint spent $280,000 to repair the water and fire-suppression systems and filed a suit against Charter One. Is the seller liable for not disclosing the building's defects/ Discuss. In 50 words or more.