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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 ...
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]
It is also unclear why the dealer's misrepresentation should have been considered "non-fraudulent" when it seems plain that the dealer deliberately misled the finance company. [citation needed] Arguably, this case should have been considered "fraudulent" as it complied with the 3-part guidelines of Derry v Peek.
Making false statements (18 U.S.C. § 1001) is the common name for the United States federal process crime laid out in Section 1001 of Title 18 of the United States Code, which generally prohibits knowingly and willfully making false or fraudulent statements, or concealing information, in "any matter within the jurisdiction" of the federal government of the United States, [1] even by merely ...
Redgrave v Hurd (1881) 20 Ch D 1 is an English contract law case, concerning misrepresentation. It holds that a contract can be rescinded for innocent misrepresentation, even where the representee also had the chance to verify the false statement.
The lawsuit includes claims for conspiracy, negligence, fraudulent misrepresentation and unfair business practices. It seeks an unspecified amount of compensatory and punitive damages.
In contract, the damages are limited to what may reasonably be supposed to have been in the contemplation of the parties. In fraud, they are not so limited. The defendant is bound to make reparation for all the actual damages directly flowing from the fraudulent inducement. The person who has been defrauded is entitled to say: