What term describes the situation when one party to a contract is not given full or accurate information by the other party?

The term that describes the situation when one party to a contract is not given full or accurate information by the other party is misrepresentation. This occurs when one party provides false, misleading, or incomplete information, leading the other party to enter into the contract based on inaccurate assumptions. Misrepresentation can affect the validity of the contract and may provide grounds for the aggrieved party to seek rescission or damages.

In contrast, morale hazard refers to an individual’s attitude or behavior that increases risk, negligence involves a failure to exercise an expected level of care that results in harm to another party, and a multi-peril policy is a type of insurance that covers multiple risks or perils under a single policy. Each of these terms pertains to different aspects of risk management and insurance and does not directly relate to the exchange of information between parties in a contract.