Danann Realty Corp. v. Harris

Danann Realty (plaintiff) contracted to buy a building lease from Harris and others (defendants), who allegedly made false oral representations about the building's operating expenses and profit potential; the signed contract specifically stated the sellers made no representations about the property's condition, rents, expenses, or operation, that Danann had inspected the premises and was taking them "as is," and that neither party was relying on any representation not embodied in the contract. Danann sued for fraud based on the oral misrepresentations, and the trial court dismissed the complaint, while the appellate division reversed.