Quantcast
Home / Opinion Digests / Contract – Purchase Of Business – Fraud In Inducement – Accounting Practices (access required)

Contract – Purchase Of Business – Fraud In Inducement – Accounting Practices (access required)

Where defendants-buyers bought plaintiff-sellers' business based on misrepresentations that grossly understated accounts payable, defendants were entitled to judgment on their counterclaim for fraudulent inducement. Buyers had purchased a business from sellers. The court determines that plaintiffs induced defendants to enter into the contract by misrepresenting existing facts. The misrepresentations, amounting to fraud, centered on ...

Leave a Reply