United States Fifth Circuit

When a party discovers fraudulent inducement when making a contract, that party must choose within a reasonable time to either stand to the bargain and seek damages for fraud, or rescind the contract. Sophisticated and experienced parties, supported by platoons of lawyers, consultants, and advisers, cannot simply shut their eyes when entering into a complex, multi-million-dollar transaction in a volatile venue, then claim to have been deceived or misled when the deal later goes awry.

Appellate Information

• Decided 02/13/2001
• Published 02/13/2001

Judges

• WIENER, Circuit Judge:, Before HIGGINBOTHAM, WIENER, and DENNIS, Circuit Judges.

Court

• United States Fifth Circuit

Counsel

• For Appellees:
  
• Ronald E. Cook,Robert M. Roach, Jr. (argued), Cook, Roach & Lawless, Houston, TX, Donald L. Saltzman, Los Angeles, CA, for Plaintiff-Counter Defendant-Appellant., James D. Thompson, III (argued), Phillip B. Dye, Jr., Vinson & Elkins, Houston, TX, for Defendants-Appellees and Defendants-Counter Claimants-Appellees.