Innocent Misrepresentation Sample Clauses

The Innocent Misrepresentation clause addresses situations where one party makes a false statement during contract negotiations without intending to deceive or mislead the other party. This clause typically limits the remedies available to the misled party, often preventing them from claiming damages but allowing for the contract to be rescinded if the misrepresentation is discovered. Its core function is to balance fairness by recognizing honest mistakes while protecting parties from being unfairly bound by contracts based on incorrect information.
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Innocent Misrepresentation when the party making the statement doesn’t know it is untrue
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Innocent Misrepresentation. Occurs when a person makes a statement of fact that he or she honestly and reasonably believes to be true, even though it is not. Occurs when an agent makes an untrue statement that he or she honestly and reasonably believes to be true. Misrepresentation of Law: When a party to a contract misstates the law related to that contract-whether innocently or intentionally.
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Innocent Misrepresentation. False statement person honestly believes is true. Courts more lenient. Really just misreps that aren’t fraudulent or negligent. No damages If the innocent misrep occurred before the K, courts will grant rescission (persons to be restored to positions before contracting)
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Related to Innocent Misrepresentation

  • Misrepresentations Borrower or any Person acting for Borrower makes any representation, warranty, or other statement now or later in this Agreement, any Loan Document or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document, and such representation, warranty, or other statement is incorrect in any material respect when made;

  • Misrepresentation Any representation or statement made or deemed to be made by an Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under or in connection with any Finance Document is or proves to have been incorrect or misleading in any material respect when made or deemed to be made.

  • No Misrepresentation The representations and warranties of the Company contained in this Agreement, any schedule, annex or exhibit hereto and any agreement, instrument or certificate furnished by the Company to the Investors pursuant to this Agreement, do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.

  • fraudulent misrepresentation No party guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any party who was not guilty of such fraudulent misrepresentation.

  • No Misrepresentations The reports and other submittals by Seller to Buyer under this Agreement are not false or misleading in any material respect.