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In common law jurisdictions, a misrepresentation is a false or misleading [1] statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. [2] [3] The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission).
Derry v Peek [1889] UKHL 1 is a case on English contract law, fraudulent misstatement, and the tort of deceit. Derry v Peek established a 3-part test for fraudulent misrepresentation, [1] whereby the defendant is fraudulent if he: (i) knows the statement to be false, [2] or (ii) does not believe in the statement, [3] or (iii) is reckless as to ...
Honest services fraud is a crime defined in 18 U.S.C. § 1346 (the federal mail and wire fraud statute), added by the United States Congress in 1988, [1] which states "For the purposes of this chapter, the term scheme or artifice to defraud includes a scheme or artifice to deprive another of the intangible right of honest services."
She sued the seller and the real estate agent for fraud and misrepresentation, saying that they made a "deliberate choice not to disclose the home's recent past," according to a court document.
So where there is a sudden downturn in the property market, a person guilty of deceitful misrepresentation is liable for all the claimant's losses, even if they have been increased by such an unanticipated event. [7] This is subject to a duty to mitigate the potential losses. [8] Contributory negligence is no defence in an action for deceit. [9]
The lawsuit includes claims for conspiracy, negligence, fraudulent misrepresentation and unfair business practices. It seeks an unspecified amount of compensatory and punitive damages.
Given the relative lack of blameworthiness of a non-fraudulent defendant (who is at worst merely careless, and at best has an honest belief on reasonable grounds) for many years lawyers presumed that for non-fraudulent misrepresentation damages would be on a contract/negligence basis requiring reasonable foreseeability of loss.
Falsification of business records, ordinarily a misdemeanor, requires an "intent to defraud." Treating the offense as a felony requires proving an additional "intent to commit another crime or to ...