In order for a Los Angeles resident to forge a contract several elements must exist to make the agreement valid. Generally, a contract must include an offer by one party to do something for or provide some good to the other party. In exchange for those goods or services, the accepting party must offer some consideration, such as payment or return performance of a service. An offer, its acceptance, and the exchange of consideration are all basic elements of an enforceable agreement.
A contract may include many other terms and conditions, such as those that dictate where performance of the service or delivery of the goods should be executed, how long the accepting party has to provide its consideration to the offering party, and others. It may also include provisions regarding remedies if one or both of the parties commits fraud during the execution or performance of the negotiated agreement.
Fraudulent misrepresentation in the realm of contracts law includes situations where one of the parties to the contract makes a false statement or claim on which the other party relies and induces that party to enter into the agreement. The falsity must either be known to the party making it or must be of such a nature that the party was reckless for not recognizing the falsity during the negotiation of the agreement.
A party that relied on a false statement to his detriment may have the right to sue the party that made the fraudulent misrepresentation for the recovery of his damages. Different remedies for fraud in a contract may serve different individuals; readers of this civil litigation and family law blog are asked to seek their own legal advice about their fraudulent misrepresentation questions as this post is offered as information only.