Fraud Based Upon Oral Future Promises (Unlike Fraud Based Upon Oral Misrepresentations of Fact) Can Be Defeated by a Standard Integration Clause
By EsqSocial Corporation 21/06/21
Fraud claims premised upon oral statements made during the negotiation of an acquisition agreement can take a variety of forms. Sometimes the extra-contractual statements that are the basis of a fraud claim are not alleged to have been traditional misrepresentations of fact by a party, but instead are alleged to constitute misrepresentations by a party of that party’s future intent (so-called “promissory fraud”). And the alleged fraudsters in these claims are not always the sellers; sometimes...
By: Weil, Gotshal & Manges LLP