reliance

In tort for deceit, it is necessary for plaintiff to prove that he relied on misrepresentation though such misrepresentation need not be the sole or even dominant reason for acting if it was a substantial factor in the plaintiffs decision. For fraud purposes, "reliance" might be defined as a belief which motivates an act. Berry v. Robotka, 9 Ariz.App. 461, 453 P.2d 972, 979.
The test of "reliance" on misrepresentation in sale of stock as ground for recovery under Securities Exchange Act is whether the misrepresentation is a substantial factor in determining the course of conduct which results in the recipient's loss. Where case involves primarily a failure to disclose, positive proof of reliance is not a prerequisite for recovery; all that is necessary is that the facts withheld be material in sense that reasonable investor might have considered them important in making of such decision. Gordon v. Burr, D.C.N.Y., 366 F.Supp. 156, 165.
Term "reliance" as used in rule imposing liability on one who volunteers to undertake action for the protection of another's person or things for failure to exercise reasonable care if harm is suffered because of the other's reliance upon the undertaking connotes dependence; it bespeaks a voluntary choice of conduct by the person harmed and infers that the person exercising it can decide between available alternatives. Barnum v. Rural Fire Protection Co., 24 Ariz.App. 233, 537 P.2d 618, 622.
See also estoppel
- material fact
@ reliance on promise
In promissory estoppel, the plaintiff is required to prove that he relied on promise of defendant to his damage.
See also promissory estoppel
@

Black's law dictionary. . 1990.

Synonyms:

Look at other dictionaries:

  • Reliance — may refer to:Companies* Reliance Anil Dhirubhai Ambani Group, a group of Indian companies headed by Anil Ambani, including: ** Reliance Capital ** Reliance Communications ** Reliance Entertainment ** Reliance Energy ** Reliance Power *… …   Wikipedia

  • reliance — re·li·ance /ri lī əns/ n 1: the act of relying reliance on a promise 2: reliance interest at interest 1 Merriam Webster’s Dictionary …   Law dictionary

  • reliance — UK US /rɪˈlaɪəns/ noun [S or U] ► the state of needing or depending on something or someone in order to be able to do something: reliance on sth/sb »Ireland has a greater reliance on oil for electricity generation than most other EU countries.… …   Financial and business terms

  • Reliance — Reliance, WY U.S. Census Designated Place in Wyoming Population (2000): 665 Housing Units (2000): 272 Land area (2000): 9.527196 sq. miles (24.675324 sq. km) Water area (2000): 0.000000 sq. miles (0.000000 sq. km) Total area (2000): 9.527196 sq.… …   StarDict's U.S. Gazetteer Places

  • Reliance — Re*li ance ( ans), n. [From {Rely}.] 1. The act of relying, or the condition or quality of being reliant; dependence; confidence; trust; repose of mind upon what is deemed sufficient support or authority. [1913 Webster] In reliance on promises… …   The Collaborative International Dictionary of English

  • Reliance, SD — U.S. town in South Dakota Population (2000): 206 Housing Units (2000): 92 Land area (2000): 1.087756 sq. miles (2.817276 sq. km) Water area (2000): 0.052724 sq. miles (0.136555 sq. km) Total area (2000): 1.140480 sq. miles (2.953831 sq. km) FIPS… …   StarDict's U.S. Gazetteer Places

  • Reliance, WY — U.S. Census Designated Place in Wyoming Population (2000): 665 Housing Units (2000): 272 Land area (2000): 9.527196 sq. miles (24.675324 sq. km) Water area (2000): 0.000000 sq. miles (0.000000 sq. km) Total area (2000): 9.527196 sq. miles… …   StarDict's U.S. Gazetteer Places

  • reliance on — index principle (axiom), surety (certainty) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • reliance — c.1600; see RELY (Cf. rely) + ANCE (Cf. ance) …   Etymology dictionary

  • reliance — *trust, confidence, dependence, faith Analogous words: credence, credit, *belief, faith: assurance, conviction, certitude, *certainty …   New Dictionary of Synonyms

  • reliance — [n] confidence assurance, belief, credence, credit, dependence, faith, hope, interdependence, interdependency, stock, trust; concept 689 Ant. disbelief, independence …   New thesaurus


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.