Thursday, June 21, 2012
ANWAR WALID, ET AL. VS. YOLANDA FOR IRENE COUTURE, INC., ET AL. A-3112-10T4
ANWAR WALID, ET AL. VS. YOLANDA FOR IRENE COUTURE,
INC., ET AL.
We reviewed the Law Division's findings and conclusions
following a bench trial wherein it was held that plaintiffs
proved by clear and convincing evidence that defendant sellers
of a business knowingly misrepresented the business's income
with the intent that plaintiffs rely thereon in buying the
business, but failed to prove reasonable reliance upon such
misrepresentations. We have clarified the principle of
reasonable reliance and determined that plaintiffs' proofs at
trial clearly and convincingly established reasonable reliance.
We also concluded that a general integration clause in the
contract does not prevent the introduction of parol evidence in
an action based upon fraud in the inducement to contract. 04-05-12