Misrepresentation can occur in business transactions – including personal business transactions such as the selling of banking products – where an incorrect or inaccurate statement is made, which acts as an inducement to buy or sign an agreement for services.
One of the most common cases involving misrepresentation in recent years has centred on the mis-selling on Payment Protection Insurance (PPI) – and banks are now having to pay millions in compensation to customers who were mis-sold the insurance.
Misrepresentation can have serious consequences in business, however –and may even lead to companies and their customers or shareholders suffering serious financial loss.
In cases where a company may sign an agreement for supplies or services which are not delivered according to the contract as a result of misrepresentation, the knock on effect could impact on a company’s ability to trade.
Duncan Lewis litigation solicitors have extensive experience in advising on misrepresentation, including advising on how a contract can be continued and alternatives to litigation, such as dispute resolution.
In cases where misrepresentation can be proved, it may be possible to void a contract (rescission).
There are three different forms of misrepresentation in contract law:
Duncan Lewis litigation solicitors can review any contracts or agreements and pinpoint where misrepresentation has occurred.
In such cases, mediation and dispute resolution can provide effective remedies to enable a contract to continue – and it is possible to make a claim for damages if financial loss has occurred as a result of misrepresentation.
In such cases, it is important to seek legal advice at an early stage in the dispute – failing to advise the other party to the contract of any misrepresentation issues could be deemed as agreement that the contract should continue as it stands.
For expert legal advice on Misrepresentation, call Duncan Lewis Civil Litigation Solicitors on 0333 772 0409.