MCS 3040 Lecture Notes - Lecture 6: Punitive Damages, Damages, Financial Statement

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joe Radocchia

Document Summary

2 types of misrepresentation: fraudulent intentional. If can be prove very difficult can be entitled to damages, not only for the impact, but as well as punitive damages. Withhold the information, and tell buyer no. You have to prove it more than on the balance of probabilities. Need very convincing and compelling evidence that this person has committed fraud. If cannot be proven may face cost on a dollar to dollar bases. Better have very good evidence to prove it then: negligent unintentional. Entitled to economic damages not entitled to pain and suffering damages. Most commonly occurs in the relationship with a professional with client/patient. Professional is someone must be legislated, government creates the profession. Create criteria that it offered educational, licencing, etc. Car accident yesterday how much time to sue. Lawyer don"t worry about it, get yourself better first: 3 years later come back to office and state that you still want to sue.