The act of intentionally not revealing information that should be disclosed and would otherwise affect the terms or creation of a contract. A concealment can occur through either purposeful misrepresentation or withholding of material facts.
Where the information could not have been known by the other party and it is known to be material by the concealing party, the concealment can give grounds for nullifying the contract.
Definition from Nolo’s Plain-English Law Dictionary
Failure to reveal information that one knows should be disclosed in good faith. Such concealment can be a cause for rescission (cancellation) of a contract by the misled party or a civil lawsuit for fraud.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm