October 26, 2012 (Press-News.org) Companies rise and fall based on the strength and reliability of their business dealings. In the past, many business owners created obligations and made promises based on a handshake. Now, deal-making is much more complicated.
With every transaction, there is still an element of trust when dealing with others -- an assumption that the other party is telling the truth. Unfortunately, that assumption may be unreliable, even when the parties have a contract laying out each other's responsibilities and duties.
If one party to a contract fails to hold up his or her part of the bargain, a breach of contract may have occurred, giving the aggrieved party the right to legal action. There are hundreds of ways breaches can occur and one of the most common is misrepresentation.
Misrepresentation can be:
-Making a false statement
-Withholding information which one has a duty to disclose
-Concealing a fact
In California, in order for a claim of misrepresentation to hold up, the aggrieved party must suffer actual damages and those damages must have occurred as a result of the party's reliance upon the misrepresented information.
For example, Joe wishes to purchase Sam's bookstore with the intention of continuing to run it as a bookstore. Prior to finalizing the sale, Sam provides false financial statements to Joe showing that the store turns a good profit each month. Joe, relying on the statements Sam provided, purchases the bookstore for a huge amount of money. After Joe takes over, he finds that book sales are dismal and the income is not sufficient to cover even the electric bill.
Joe suffered a loss resulting from his reliance on Sam's misrepresentation. His chances of prevailing in a legal action against Sam are pretty good. If, however, Joe purchased the bookstore with the intention of immediately tearing down the existing building down and putting in a gas station, Sam's misrepresentation may be deemed to be immaterial and therefore not a cause for recovery.
If you have suffered a loss due to a fraudulent business deal or you dispute facts provided as a part of transaction to which you are a party, seek the counsel of an attorney knowledgeable about business litigation. An experienced contract lawyer can help you determine whether you have a cause of action and can help you recover losses you may have suffered.
Article provided by William B. Hanley, Attorney at Law
Visit us at http://www.hanley-law.com
Enforcing Contracts in California: Recovering From Misrepresentation
If one party to a contract is fails to hold up his or her part of the bargain, a breach of contract may have occurred, giving the aggrieved party the right to legal action.
2012-10-26
ELSE PRESS RELEASES FROM THIS DATE:
Above the Law? Police Officers in Texas and Distracted Driving Accidents
2012-10-26
City officials throughout Texas are in agreement: Distracted driving is dangerous. Distracted driving can include texting, eating, grooming, using a navigation system or using the Internet while operating a vehicle. City officials aren't the only ones noting how dangerous this practice can be; recent research has also supported this realization. In fact, some studies find that distracted driving can impair a driver even more than driving while intoxicated.
Distracted driving is so dangerous that some states have passed legislation banning the use of hand held cellphones, ...
Ignition Interlock Device May Be Required for Wisconsin OWI Conviction
2012-10-26
People convicted of driving drunk in Wisconsin, legally termed, "Operating While Intoxicated," or OWI, face certain penalties such as automatic driver's license suspension, fines and the possibility of jail time. In addition, some drivers may be required to install ignition interlock devices on their vehicles.
Wisconsin OWI Laws
In Wisconsin, a driver convicted of a first-time OWI with a blood alcohol content of 0.08 or greater faces fines of $150-$300 and a six- to nine-month driver's license revocation. Drivers convicted of a second OWI within 10 years ...
Sleep Aids and Depression Medications May Increase Risk of Car Accidents
2012-10-26
A recent study by the National Health Research Institute found those who take medications to manage anxiety, depression or insomnia are more likely to be involved in car accidents than those who do not.
Researchers noted the drugs are designed to alter how the brain functions and that it is advised those using these medications refrain from driving.
Details of the Study
The study, recently published in the British Journal of Clinical Pharmacology, compared over 35,000 drivers. The drivers were split into two groups. The first group was composed of drivers who had ...
New Mexico City Street Sweeper Charged With DWI
2012-10-26
New Mexico City Street Sweeper Charged With DWI
New Mexico City Street Sweeper Charged With DWI
Driving while intoxicated is generally associated with typical vehicles such as a car or truck. But any operation of a motor vehicle while intoxicated is against New Mexico state law, which a state employee working as city street sweeper recently found out to his detriment. The employee, Herbert Morgan, was out to clean up after an accident, but missed the debris entirely and instead crashed into a police car. He ended up backing into a police deputy's car twice but did ...
New Jersey Clinic Facing Pregnancy Discrimination Claims
2012-10-26
New Jersey Clinic Facing Pregnancy Discrimination Claims
Two women have filed a discrimination lawsuit against their former employer, a New Jersey allergist, claiming that they were both fired on the same day in October 2011 because they were pregnant. The suit alleges that, although the doctor claimed to be downsizing due to financial difficulties at the clinic, he later hired two new employees to replace the women who were fired.
The women are suing the doctor and his practice for pregnancy discrimination, which is prohibited by the Pregnancy Discrimination Act, ...
Amid Call for Nationwide Ban, Cal. Cellphone Laws Reduce Traffic Deaths
2012-10-26
Amid Call for Nationwide Ban, Cal. Cellphone Laws Reduce Traffic Deaths
Distracted driving has become a prominent issue in recent years. No wonder: distracted driving causes thousands of traffic deaths and nearly half a million car accidents each year. Drivers are 23 times more likely to get into a car accident when texting while driving, according to the Federal Motor Carrier Safety Administration. A University of Utah study found that a driver's use of a cellphone, even if it is hands-free model, is equivalent to having a blood alcohol concentration of 0.08 percent, ...
IRS Expands Offer in Compromise Plan
2012-10-26
IRS Expands Offer in Compromise Plan
In 2011, the Internal Revenue Service began its "Fresh Start" initiative, a series of programs designed to help individuals and small business resolve unpaid tax debts and prevent tax liens. As part of Fresh Start, the IRS expanded its Offer in Compromise program in May 2012, with the intent of helping more people qualify. Those with tax debts should be aware of the OIC program and the changes the IRS made to it.
What Is an Offer in Compromise?
An offer in compromise is a proposal that a taxpayer makes to the IRS to ...
Department of Labor Reports Increase in Wage and Hour Violation Claims
2012-10-26
Department of Labor Reports Increase in Wage and Hour Violation Claims
A recent report by the Today Show is calling attention to a growing problem: more and more employers are taking advantage of low- and mid-wage workers by avoiding payment of overtime wages. This trend is supported by an increase in lawsuits filed claiming violations under the Fair Labor Standards Act (FLSA).
FLSA is designed to ensure workers receive proper compensation, covering a variety of labor protection rights including minimum wages and overtime pay. In many cases, overtime pay is required ...
Hospitals Get Creative in Attempts to Improve Patient Safety
2012-10-26
Hospitals Get Creative in Attempts to Improve Patient Safety
The faulty care provided to patients in hospitals is a leading cause of death in the U.S., trailing only heart disease and cancer, U.S. government data shows. The government estimated in 2010 that faulty medical care contributed to the death of about 15,000 Medicare patients monthly, according to The Washingtonian. To promote safety of their patients -- whether they have Medicare or not -- doctors and nurses follow certain safety measures, such as following a short checklist to eliminate wrong-site surgeries.
Checklists
The ...
According to Morgan Law Group 1 in 8 U.S. Households Could Owe Estate Tax in 2013
2012-10-26
LIMRA, the worldwide association of insurance and financial services companies, has just released a report that finds approximately 14.7 million U.S. households - one in eight - face a potential estate tax liability if the estate tax law reverts back as planned to 2001 levels at the end of this year.
The LIMRA report said that Congress would likely consider three different proposals for the estate tax when it reconvenes following the November elections:
• Allowing the estate tax to revert back to 2001 levels of $1 million and 55% maximum tax;
• Extending the current ...
LAST 30 PRESS RELEASES:
AI tool helps visually impaired users ‘feel’ where objects are in real time
Collaborating minds think alike, processing information in similar ways in a shared task
Routine first trimester ultrasounds lead to earlier detection of fetal anomalies
Royal recognition for university’s dementia work
It’s a bird, it’s a drone, it’s both: AI tech monitors turkey behavior
Bormioli Luigi renews LionGlass deal with Penn State after successful trial run
Are developers prepared to control super-intelligent AI?
A step toward practical photonic quantum neural networks
Study identifies target for disease hyper progression after immunotherapy in kidney cancer
Concordia researchers identify key marker linking coronary artery disease to cognitive decline
HER2-targeted therapy shows promising results in rare bile duct cancers
Metabolic roots of memory loss
Clinical outcomes and in-hospital mortality rate following heart valve replacements at a tertiary-care hospital
Too sick to socialize: How the brain and immune system promote staying in bed
Seal milk more refined than breast milk
Veterans with cardiometabolic conditions face significant risk of dying during extreme heat events
How plants search for nutrients
Prefrontal cortex reaches back into the brain to shape how other regions function
Much-needed new drug approved for deadliest blood cancer
American College of Lifestyle Medicine publishes official position on lifestyle medicine as a framework for delivery of high-value, whole-person care
Hospital infections associated with higher risk of dementia
Thyroid dysfunction during pregnancy may increase autism risk in children
Cross-national willingness to share
Seeing rich people increases support for wealth redistribution
How personalized algorithms lead to a distorted view of reality
Most older drivers aren’t thinking about the road ahead, poll suggests
Earthquakes shake up Yellowstone’s subterranean ecosystems
Pusan National University study reveals a shared responsibility of both humans and AI in AI-caused harm
Nagoya Institute of Technology researchers propose novel BaTiO3-based catalyst for oxidative coupling of methane
AI detects first imaging biomarker of chronic stress
[Press-News.org] Enforcing Contracts in California: Recovering From MisrepresentationIf one party to a contract is fails to hold up his or her part of the bargain, a breach of contract may have occurred, giving the aggrieved party the right to legal action.