Florida residents place a great deal of trust in one another in all walks of life. This is true in the business world as in any other situation, as businesses have trust that their business partners, vendors and other entities will follow through on their promises.
Unfortunately, this is not always the case. For example, last week, this blog discussed a fraud claim that was asserted based on the improper accounting and withholding of monies that were allegedly owed.
Fraud claims can play a significant part of a corporate dispute. Due to another's false statements, misrepresentations or deceitful conduct, there can be a great deal of money or property that was gained by the fraudulent actor through the misleading or deceitful conduct.
Under Florida law, a person who has been defrauded can hold the other party responsible for their conduct. In order to succeed on a fraud claim, it typically must be shown that there was a misrepresentation of a material fact by someone who knew or believed that fact to be false. It also must be shown that the person relied on that misrepresentation in some way, and that the person or business suffered some injury or loss because of the reliance on the misrepresentation.
Ultimately, a fraud claim may be just one of several different claims available in business litigation. It is a serious matter that deserves careful attention, however, not only to uncover the extent of the fraud that was perpetrated by the other party, but to ensure all of the legal requirements are covered in pursuing the fraud claim.
Source: FindLaw, "Fraud," accessed on Oct. 29, 2016