Fraudulent inducement is a subset of fraudulent misrepresentation. Bracht v. Grushewsky, 448 F.Supp.2d. 1103, 1110 (E.D.Mo. 2006); Hess v. Chase Manhattan Bank, USA, N.A., 220 S.W.3d. 758, 763 (Mo. 2007). The elements of fraudulent misrepresentation are: 1) a representation; 2) its falsity; 3) its materiality; 4) the speaker's knowledge of the falsity or his ignorance of its truth; 50 the speaker's intent that his representation should be acted upon by the hearer and in the manner reasonably contemplated; 6) the hearer's ignorance of the falsity of the representation; 7) the hearer's reliance on the truth of the representation; and 8) the hearer's consequent and proximately caused injury. Renaissance Leasing, LLC v. Vermeer Manufacturing Co., 322 S.W.3d. 112, 131-32 (Mo. 2010); see, Cole v. Homier Distributing Co., at 862; Harvey, Jr. v. Citimortgage, Inc., et. al., 2011 WL 1226973, *5 (E.D.Mo. March 29, 2011); Brazile v. Sara Lee Corp., 2010 WL 3872437, *5 (E.D.Mo. September 28, 2010); Moody v. Kramer Frank, P.C., 2010 WL 883660, *3 (E.D.Mo. March 5, 2010). Fraudulent inducement occurs when a fraudulent misrepresentation leads another to enter into a transaction with a false impression of the risks, duties or obligations involved.