concealment n. fraudulent failure to reveal information which someone knows and is aware that in good faith he/she should communicate to another. Examples include failure to disclose defects in goods sold (the horse has been sick, the car has been in an accident), leaving out significant liabilities in a credit application, or omitting assets from a bankruptcy schedule to keep them from being available for distribution to creditors. Such concealment at minimum can be a cause for rescission (cancellation) of a contract by the misled party or a civil lawsuit for fraud. (See: fraud)
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Printed copy · Anthology Volume 5, page 854 · cut by a page breakPrinted copy from The Tender For Law Anthology, Volume 5, page 854 (printed 13 June 2014). Added by this site; not part of the Facebook export. A page break in the printout cut off the beginning of this comment, with its name.