Saturday, October 24, 2009

What is the main diference between concealment and nondisclosure in business law?


Answer:
Knowledge of an event , communication, property, or intelligence that is concealed, with intent to conceal, from scrutiny or investigation, by any lawfull body or court.

Nondisclosure is the knowingly withholding of information, intelligence , property, with the knowledge that the information, intelligence, property, is required or could be usefull in the full investigation or scunity by a lawfull body or court.

Lying to any official or officer of the court is , of course, prohibited. Under lawfull investigative tools, misleading or lying by the officials or officers of the court is not prohibited and cannot be used in defense with any impact.
Concealment is active, nondisclosure is passive.

Concealment involves taking affirmative steps to hide something; nondisclosure involves failing to take affirmative steps to reveal it.

The legal consequences of one may be different from those of the other depending on the circumstances. For example, someone accused of failing to disclose something may not have known whatever it was he is accused of not disclosing. The consequences of his failure may depend on whether he should have known it -- that is, whether his role in the transaction imposed a duty on him to inquire and make a reasonable effort to uncover it.

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