Content-Length: 37587 | pFad | https://www.law.cornell.edu/wex/omission

omission | Wex | US Law | LII / Legal Information Institute

omission

Omission is refraining from acting or disclosing, see Brown v. Standard Casket Mfg. Co . .

It can be used in various situations:

  • "Failure to disclose the origen of a recording” in criminal law is defined as following: “failure to disclose the origen” can take place either on omission of the actual name and address of the manufacturer or an omission of the name of the performer or principal artist.
  • Under property tax law , the word “omission” is used in the following way: “Where town clerk was personally and timely served with petition with respect to application to review real property tax assessment giving court jurisdiction and the official notice of proceeding, service of just one copy of petition rather than the statutorily required three copies was a mere irregularity or omission which could be cured.”
  • The term is often used in the context of fraud and securities fraud , where an omission of a material fact can be the basis for liability . For example, in Litwin v. Blackstone Group, 634 F.3d 706 (2nd Cir. 2011) , the Second Circuit found Blackstone, a large investment fund, liable for securities fraud where they omitted in their IPO registration statement that a significant portion of their decline in revenue derived from a single subsidiary .

[Last reviewed in December of 2021 by the Wex Definitions Team ]

Wex









ApplySandwichStrip

pFad - (p)hone/(F)rame/(a)nonymizer/(d)eclutterfier!      Saves Data!


--- a PPN by Garber Painting Akron. With Image Size Reduction included!

Fetched URL: https://www.law.cornell.edu/wex/omission

Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy