Actual loss or injury suffered: The victim suffered some actual loss as a direct result of their dependence on the false statement.However, persons known to be illiterate, incompetent, or otherwise mentally diminished may be awarded civil damages if the perpetrator knowingly took advantage of their condition. Reliance on rhetorical, outrageous, or clearly impossible statements or claims may not amount to “reasonable” reliance. Reasonable reliance by the victim: The level to which the victim relies on the false statement must be reasonable in the eyes of the court.Intent to deceive: The false statement must have been made expressly with the intent of deceiving and influencing the victim.Knowledge of falsehood: The party making the false statement must know or believe that it is untrue or incorrect.For example, the false statement contributes to a person’s decision to purchase a product or approve a loan. The gravity of the false statement should be adequate to substantially affect the victim’s decisions and actions.
A misrepresentation of a material fact: A false statement involving a material and pertinent fact must be made.The latter needs to loan money to be financially profitable and the former needs to borrow money to leverage itself in order to grow. On the other hand, there’s also interdependence between business and financial companies. The supplier needs the client to pay for his goods but the client also needs the supplier in order to produce its own goods. Interdependence can be found in client-supplier relationships when it comes to raw materials. In the business field, organizations depend on each other in many different levels.ĭepending on the nature of the relationship, the degree of interdependence can be so high that the disappearance of one party might cause the other party to disappear too. These kinds of relationships can be found almost everywhere since, as humans, we need other people’s help to survive and strive. That means both subjects need each other to fulfill their needs. Interdependence is a connection between subjects where one subject’s needs can be fulfilled by the other subject’s resources and these transfer of resources works both ways. It means that each party has something the other party need. Definition: Interdependence is a relationship between multiple parties that depend on each other to strive.
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