omission
Definition
An omission is something you failed to do or failed to disclose when you had a legal duty to do it. In business and contract law, leaving out important information can get you into just as much trouble as an outright lie.
Example
If you sell your restaurant and forget to tell the buyer that the kitchen has a known mold problem, that omission could make you liable for fraud even though you never said anything false.
Watch Out
Courts treat silence as deception when you knew something important and deliberately stayed quiet about it.
See which terms appear in your contract?
This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.