The notion of full disclosure comes up in various business contexts. Typically, when you’re transacting business with other parties, every person involved is responsible for looking out for his own interests. However, in certain situations, either the law or a contract may impose upon you the duty to tell the whole truth about all material facts.

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Full vs. Partial Disclosure

At the basic level, full disclosure is simply the process of revealing all material facts that are relevant to a transaction. Full disclosure differs from partial disclosure where one party to a transaction may omit certain facts and the onus is on the other party to diligently investigate the facts before agreeing to anything.

Legal Duty of Full Disclosure

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