Sherban v. Richardson, 83-622
| Decision Date | 07 March 1984 |
| Docket Number | No. 83-622,83-622 |
| Citation | 445 So.2d 1147 |
| Parties | Elaine SHERBAN, Appellant, v. Audrey RICHARDSON, Appellee. |
| Court | Florida District Court of Appeals |
William R. Hussey, Fort Lauderdale, for appellant.
Bruce Zeidel of Cohen, Scherer & Cohn, P.A., North Palm Beach, for appellee.
This is an appeal from a final judgment based upon a jury verdict assessing damages for fraudulent misrepresentation as to ownership in a transaction involving the sale of corporate stock.
The purchase and sale agreement provided, inter alia:
1. Sherban owns all of the outstanding stock of SAFARI PRODUCTIONS, INC. Safari Productions, Inc. owns all of the outstanding stock of THE PRINCE OF WALES, INC. Prior to the closing of this transaction, Seller's attorney shall show satisfactory proof of this representation to Buyer.
As a matter of fact Sherban had an entitlement to the Safari Productions, Inc. stock under an arrangement which, while titled an option, more closely resembled a security agreement with Sherban holding equitable title (beneficial ownership) of the stock.
The issue is whether misidentification of the nature of Sherban's interest constituted actionable fraud.
As we said in Alexander/Davis Properties, Inc. v. Graham, 397 So.2d 699, 706 (Fla. 4th DCA) pet. for rev. denied, 408 So.2d 1093 (Fla.1981):
For fraud to be actionable, the following elements must be made to appear:
(1) a misrepresentation of material fact;
(2) [a] a knowledge of the representor of the misrepresentation, or
[b] representations made by the representor without knowledge as to either truth or falsity, or
[c] representations made under circumstances in which the representor ought to have known, if he did not know, of the falsity thereof;
(3) an intention that the representor induce another to act on it; and
(4) resulting injury to the party acting in justifiable reliance on the representation.
Sometime after closing of the sale from Sherban to Richardson the business operated by the Prince of Wales, Inc. failed, resulting in the damages to Richardson, the purchaser, complained of below. The initial difficulty with Richardson's position, as we perceive the record and understand the facts and claims, is that none of the damages claimed by Richardson can be said to have been proximately caused by the nature of the stock's ownership, whether title was defective or not.
In addition, all of the documents defining the precise status of title were reviewed by...
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Stev-Mar, Inc. v. Matvejs
...the Court finds as a matter of law the Plaintiff did not rely upon the representations of the Defendant[s]. Sherban v. Richardson, 445 So.2d 1147 (Fla. 4th DCA 1984)." The court entered partial summary judgment in favor of defendants on the fraud, misrepresentation and rescission claims. Af......
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Rousseff v. E.F. Hutton Co., Inc.
...S.Ct. 814, 83 L.Ed.2d 807 (1985). The same holds true with respect to the common law fraud cause of action. See Sherban v. Richardson, 445 So.2d 1147, 1148 (Fla.Dist.Ct.App.1984); Alexander/Davis Properties, Inc. v. Graham, 397 So.2d 699, 706 In the present case, the district court did not ......
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Sheen v. Jenkins, 92-1530
...reliance obviously goes to the issue of damages. This Court has described the elements of fraud as follows, SHERBAN v. RICHARDSON, 445 So.2d 1147, 1148 (Fla. 4th DCA 1984): (1) a misrepresentation of material (2) [a] a knowledge of the representor of the misrepresentation, or [b] representa......
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Wright v. Leasecomm Corp., 92-1361-CIV-T 17.
...Fees and Costs at 7, Wright v. Leasecomm Corp. (No. 92-1361) citing Lance v. Wade, 457 So.2d 1008 (Fla.1984), Sherban v. Richardson, 445 So.2d 1147 (Fla. 4th DCA 1984). Plaintiff has not alleged any of the above elements with The Court cannot find any alleged facts which support a legal cau......