COMM 341: Legal duty to disclose

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COMM 341 > COMM 341: Civil Victim > COMM 341: C/A Tort of Fraud > COMM 341: Legal duty to disclose

Two reasons that cause a legal duty to disclose

Fiduciary

• Fiduciary relationship (trust and dependence)
• Possible situations:
  • Before marriage - there IS a fiduciary relationship requring trust & dependence
  • During marriage - this is NOT fiduciary because it would make it too easy to get divorces
  • After seperation - there is NO fiduciary relationship because they are at "arms length" - they DON'T depend on eachother

Statutory (legislative) duty to disclose

• There is a duty to disclose because the "legislature says so"
  • Examples in virginia
    • 1994 - Statutory duty to disclose known defects in residential real estate property OR a written agreement includes the words "AS IS".