Fraud in the inducement refers to a situation where a person is deceived or misled into entering a contract or agreement by false statements or misrepresentations made by the other party. Unlike fraud in the execution, which involves deceiving someone about the nature or existence of a contract, fraud in the inducement occurs when one party knowingly provides false information to induce the other party to enter into the contract. This false information could involve misrepresentations about the terms of the contract, the quality of goods or services being offered, or other material facts relevant to the agreement. If proven, fraud in the inducement may render the contract voidable, allowing the deceived party to rescind the contract or seek damages for any harm suffered as a result of the fraudulent conduct.
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This glossary post was last updated: 29th March, 2024.
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