No reliance clauses require certain standards be met in federal court

The U.S. District Court for the Northern District of Illinois recently examined the viability of “no reliance” clauses in commercial real estate contracts and the pleading requirements for common law fraud.In Walls v. VreChicago Eleven LLC, 2016 WL 5477554 (N.D. Ill. 2016), the property purchaser plaintiffs claimed they were fraudulently induced to buy property by defendants who falsely claim the property was …

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