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Superior Court Adopts Chancery Anti-Reliance Law

Posted In M&A

TEK Stainless Piping Products Inc. v. Smith,  C.A. N13C-02-175 (October 14, 2013)

When does the parties' contract bar a claim for fraud? Here the Superior Court adopted the Court of Chancery's line of decisions that holds to bar such a claim the contract must specifically disclaim any "reliance" on representations outside the terms of the contract itself.

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