You don’t need us to tell you that contract issues come up all the time in the business world. That’s why you need to understand the law and how it might apply to your certain set of circumstances, especially if you hope to protect your interests and your finances. One type of contract issue that might apply to you is fraudulent misrepresentation, so let’s take a look at it.
The basics of fraudulent misrepresentation in the context of contracts
Generally speaking, fraudulent misrepresentation occurs when a false or misleading statement is made and the other party relies on that statement when deciding to enter into a contract. But the issue can be much more nuanced than that. For example, not only do you have to show that a false statement was made, but you’ll also have to demonstrate that the false statement was either intentionally made or made with some sort of disregard for what the truth could be.
You’ll also have to show detrimental reliance. This is easier, of course, if the statement pertains to a material portion of the contract, but even seemingly minor terms might be relied upon and cause harm. Therefore, when addressing detrimental reliance, you should carefully consider what terms of the contract lured you in and why you agreed to the terms as written. Witness testimony and written communications with the other party can support this showing. The actual damages you suffered can also show the detriment you’ve faced by agreeing to the contract. So, too, can missed opportunities with other favorable contracts.
Know how to litigate your contract case
Don’t let yourself get bullied around when you’re facing a contract dispute. Far too often we see people just accept that they’ve been wronged or question whether the action in question was wrong enough to warrant legal action. Let skilled legal professionals like ours make that determination and advocate on your behalf. Perhaps then you can fully protect your interests and ensure that you’re not taken advantage of.