"Actual Reliance" is when the party entering into a transaction or contract actually has faith in the assertion being made, which later turns out to be a case of fraudulent misstatement or failure to disclose, and that faith had an influence on their choice to enter said contract. This Reliance will not be considered "Justifiable," though, if the assertion was obviously false or blatantly not to be taken seriously.
Feb 13th, 2015
Are you studying on the go? Check out our FREE app and post questions on the fly!