"Material misrepresentations" refers to false or untrue information that is important or significant enough to influence a decision-making process or outcome.
Full definition
It's hard to be in real estate brokerage without at some point experiencing a buyer's complaint about
material misrepresentation of a property's condition.
This means a death benefit will be paid out even if you commit suicide, and that
material misrepresentation on the application can not be used against you in a claim.
There's a period of time after binding the policy during which the carrier has the right to due diligence and cancel the policy for any reason,
including material misrepresentation.
There's a period of time after binding the policy during which the carrier has the right to due diligence and cancel the policy for any reason,
including material misrepresentation.
A lawyer who
made material misrepresentations in a lawsuit may be sued under New York's «attorney deceit» statute, even if there was only a single act of misrepresentation.
A New York homeowner was denied coverage under a homeowner insurance policy issued by Vermont Mutual after it was discovered that he made
material misrepresentations in the policy application.
Because your policy can be cancelled or even rescinded (no coverage ever existed)
for material misrepresentation of facts about the risk that's being taken on.
According to statements from the U.S. Department of Justice issued Tuesday, the two stand accused of «conspiring to commit, and the commission of, securities and wire fraud in connection with a scheme to induce victims to invest more than $ 25 million in investments
through material misrepresentations and omissions.»
AARP Permanent Life insurance allows you to keep coverage for your lifetime, as long as you pay your premiums and did not make
material misrepresentations about your health on your application.
Let me reiterate from past years of debunking this myth, «successfully contested policies are rare» and only successfully contested when when
significant material misrepresentation appears in the application or interviews done to acquire life insurance.
4 The telephone sales personnel, on the direction of Mr. Libman, made
material misrepresentations with respect to their identity, where they were telephoning from, and the quality and value of the shares they were selling.
Technically, in most states your insurer may cancel your policy only if you: fail to pay your premium; lose your driver's license; are guilty of
material misrepresentation during the application process i.e., you fail to notify your insurer of a recorded violation, such as a drunken driving, or possession of drugs or any illegal activity offense; or you fail to report a substantial change of risk, such as buying a new high performance sports car to replace an old high mileage family sedan.
After a trial, the court found the rescission was proper due to
material misrepresentations at the application and renewal stage of the policy issuance and that the claim was excluded due to the racing exclusion.
In the life
insurance material misrepresentation cases that I handle, it is quite common for life insurance companies to issue policies without carefully examining the application to see if there are inconsistencies or inaccurate answers, or checking on the financial and medical background of the applicant beyond asking a series of questions and accepting the answers at face value.
One common example of
material misrepresentation occurs when policy applicants hold back information about themselves that they know may compromise their ability to get approved for a policy or that may affect the affordability of such a policy.
Omitting that you have a Pit Bull is very much material misrepresentation
So, if the insured dies after being insured for two years, the insurance company can not contest the payment of the death benefit for
material misrepresentation on the application for coverage, or any other reason.
a scheme to defraud Retrophin by misappropriating Retrophin's assets
through material misrepresentations and omissions in an effort to satisfy SHKRELI» s personal and unrelated professional debts and obligations.
They are protected
from material misrepresentation through the two year clause, but the remedy if they find some inconsistency is not always to void the contract and not pay the death benefit.
Because your policy can be cancelled or even rescinded (no coverage ever existed) for
material misrepresentation of facts about the risk that's being taken on.
The claim was raised by Taylor - Copeland legal firm, where Mrs. & Mr. Breitman were accused of selling unregistered securities, committing securities fraud, false advertising and unfair competition («by
making material misrepresentations and omissions»).
Specifically, Shkreli is accused of defrauding investors in his hedge funds by making «
material misrepresentations» about the performance and assets under management.
a scheme to defraud investors and potential investors in MSMB Healthcare by inducing them to invest in MSMB Healthcare through
material misrepresentations and omissions about, inter alia, the prior performance of the fund, its assets under management and existing liabilities; and then by preventing redemptions by the investors through material misrepresentations and omissions about, inter alia, the performance of the fund and the misappropriation by SHKRELI and others of fund assets; and
The indictment alleged that Shkreli induced investors to invest in the hedge funds through
material misrepresentations and omissions about prior fund performance and the amount of assets under management, among others.