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Case Summary
Cristallina S.A. v. Christie, Manson & Woods International
Cristallina S.A. v. Christie, Manson & Woods Int'l, 117 A.D.2d 284 (N.Y. App. Div. 1986).
Précis
In this case, a New York State appeals court held that auction houses have a fiduciary duty to their consignors, to make good-faith estimates as to value of the works to be sold. Moreover, if the auction house knowingly gives the consignor a false estimate, it could be liable for
fraud
The intentional use of deceit, a trick or some dishonest means to deprive another of his money, property or legal right, either as a cause of action or as a fatal element in the action itself.
fraud,
negligent misrepresentation
A careless or inadvertent false statement in circumstances where care should have been taken (Black’s Law Dictionary (8th ed. 2004)).
negligent misrepresentation, and
breach of contract
Violation of a contractual obligation by failing to perform one's own promise, by repudiating it, or by interfering with another party's performance (Black’s Law Dictionary (8th ed. 2004)).
breach of contract.
Associated Legal Decision(s)
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