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fraud in the inducement |
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fraud in the inducement n. the use of deceit or trick to cause someone to act to his/her disadvantage, such as signing an agreement or deeding away real property. The heart of this type of fraud is misleading the other party as to the facts upon which he/she will base his/her decision to act. Example: "there will be tax advantages to you if you let me take title to your property," or "you don't have to read the rest of the contract--it is just routine legal language" but actually includes a balloon payment. (See: fraud, extrinsic fraud) |
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as well as key executives alleging they have violated federal racketeering statutes (RICO Act), conspired to violate federal racketeer statutes (RICO Act), fraud in the inducement, breach of contract, promissory fraud, negligent misrepresentation, breach of covenant of good faith and fair dealing, and failure to pay wages due. The lawsuit was filed, in order to protect the shareholders, for damages resulting from alleged stock manipulation, federal securities fraud, violations of the Colorado Securities Act, common law fraud, fraud in the inducement, conspiracy, and similar causes of action. and seeks damages of at least $84 million for fraud in the inducement, breach of contract and unjust enrichment. |
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fraud in the inducement
