reasonable reliance

reasonable reliance
A legal standard based upon what a prudent person would believe. If reliance is not reasonable, a defendant in certain situations may not seek redress. For example, someone who invested in a machine that allegedly turned rocks into gold could not recover damages for fraud if it could be shown that a prudent person would not have reasonably relied on such claims.
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Category: Small Claims Court & Lawsuits
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Nolo’s Plain-English Law Dictionary. . 2009.

reasonable reliance
n.
   particularly in contracts, what a prudent person would believe and act upon if told something by another. Typically, a person is promised a profit or other benefit, and in reliance takes steps in reliance on the promise, only to find the statements or promises were not true or were exaggerated. The one who relied can recover damages for the costs of his/her actions or demand performance if the reliance was "reasonable." If the promisor says he "owned the Brooklyn Bridge," reliance on that statement is not reasonable. In a complaint the language would read something like: "in reasonable reliance on defendant's statement (or promise), plaintiff did the following:."
   See also: contract

Law dictionary. . 2013.

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