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I'm a Remodeler: Is BRANNJ & NAHB Right for me?

Building Industry and Legislative News

Consumer fraud: "any unconscionable commercial practice, deception, fraud, false pretense, false promise or misrepresentation" in connection with the sale of goods, services or real estate.N.J.S. 56:8-2.

The New Jersey Consumer Fraud Act provides that are three ways in which an act of consumer fraud may be committed:

1. Affirmative Misrepresentation -An affirmative misrepresentation is a statement of fact that is untrue. It does not matter whether the party making the statement knew that it was untrue. If the statement is untrue, then it is consumer fraud. Thus unlike traditional concepts of fraud which require an intentional misrepresentation (i.e., a "lie"), consumer fraud may be a negligent, unintentional misrepresentation.

2. Knowing Omission -Consumer fraud can be the "knowing concealment, suppression or omission of any material fact."N.J.S.56:8-A knowing omission occurs when a party knows a fact that is important to the transaction but fails to disclose it.

3. Violation of Certain Laws - The Act itself. Such statutes and regulations define specific conduct prohibited by law. PERMITS.

4. Ascertainable Loss - Any type of damage that is quantifiable or measurable. Thiedemann v. Mercedes-Benz, USA, LLC, 183 N.J. 234 (2005). It does not have to be a loss that you have already experienced, but may include a future out of pocket expense that you will be required to make.Cox v. Sears Roebuck & Co., 138 N.J. 2 (1995).

The written contract must contain specific information including: The contractor must be a registered home improvement contractor with Division of Consumer Affairs (DCA)

The contract and ALL documents must provide the contractor's registration numberin at least 10 point bold face type

H.I. Contractors are required to purchase and maintain a commercial liability insurance policy with minimum coverage of $500,000 per occurrence. Proof of coverage to be filed with the DCA and any changes must be provided to the DCA before the term of the original policy expires.

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To view the complete list and get expert advise on how to protect yourself and your company, please contact our expert presenters, Mr. Richard Gaynor, CIC, CRM, President of Middleton & Company Insurance 973-383-5525, ext. 220 and Kara Kaczynski, Esq., Scarinci Hollenbeck Attorneys at Law at 201-896-4100.

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