help please 15. Vern Westby inherited a \"ticket\" from A Sioblom, a survivor of
ID: 2809868 • Letter: H
Question
help please
15. Vern Westby inherited a "ticket" from A Sioblom, a survivor of the sinking of the which had been pinned to the inside ofhinic He also inherited an album of postcards r ot which related to the Titanic. The ticket was of a-kind item in good condition. Westby cash and went to the biggest antique dealer Tacoma, operated by Alan Gorsuch and his family, doing business as Sanford and Sons, and asked about the value of these items. Westby testified that after Alan Gorsuch examined the ticket, he said, "It's not worth nothing." Westh then inquired about the value of the postcand album, and Gorsuch advised him to come back later. On Westby's return, Gorsuch told Westby "It ain't worth nothing." Gorsuch added that he "couldn't fetch $500 for the ticket." Since he needed money, Westby asked if Gorsuch would give him $1,000 for both the ticket and the album, and Gorsuch did so. some of a one neded in Six months later, Gorsuch sold the ticket at a nationally advertised auction for $110,000 and sold most of the postcards for $1,200. Westby sued Gorsuch for fraud. Testimony showed that Gorsuch was a major buyer in antiques and collectibles in the Puget Sound area and that he would have had an understanding of the value of the ticket. Gorsuch contends that all elements of fraud are not present since there was no evidence that Gorsuch intended that Westby rely on the alleged representations, nor did Westby rely orn such. Rather, Gorsuch asserts, it was an arm s length transaction and Westby had access to the same information as Gorsuch. Decide. IWestby " Gorsuch, 50 P.3d 284 (Wash. App.)]Explanation / Answer
Fruad Law definition
Fraud is generally defined in the law as an intentional misrepresentation of material existing fact made by one person to another with knowledge of its falsity and for the purpose of inducing the other person to act, and upon which the other person relies with resulting injury or damage. Fraud may also be made by an omission or purposeful failure to state material facts, which nondisclosure makes other statements misleading.
To constitute fraud, a misrepresentation or omission must also relate to an 'existing fact', not a promise to do something in the future, unless the person who made the promise did so without any present intent to perform it or with a positive intent not to perform it. Promises to do something in the future or a mere expression of opinion cannot be the basis of a claim of fraud unless the person stating the opinion has exclusive or superior knowledge of existing facts which are inconsistent with such opinion. The false statement or omission must be material, meaning that it was significant to the decision to be made
Current Scenario
In the given case Gorsuch was major dealer in antiques, Wetsby approaches him to sell tickets she has
Gorsuch has information about the market value of the tickets
Gorsuch intentionally misrepresented to the Westby on matter of market value of tickets
To constitute a fruad the misrepresentation must be made knowingly
in the given case Gorush has misrepresented to Westby on value of tickets and postcards
Conclusion
This constitutes fruad Gorsuch is guilty of fraud
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