Rulings on Fraud in Inducement, Promise to Use 'Best Efforts'

, New York Law Journal

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In his Contract Law column, Glen Banks, of Norton Rose Fulbright, reviews recent decisions, including one that follows the principle that when a sophisticated party chooses to proceed with a transaction despite notice that warranties made to it were not true, that party may not later claim fraudulently inducement, and another that allowed a court to give meaning to ambiguous language where custom in the trade clearly showed the meaning of the language.

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