A few of the definitions of “fraudulent concealment” are discussed in: Woods v. Davis, 11 U.S. 271 (1812) quoting,
“Party having superior knowledge who takes advantage of another’s ignorance of the law to deceive him by studied concealment or misrepresentation can be held responsible for that conduct. Fina Supply, Inc. v. Abilene Nat. Bank, 726 S.W.2d 537, 1987. Knowing failure to disclose material information, necessary to prevent statement from being misleading, or making representation despite knowledge that
it has no reasonable basis in fact, are actionable as fraud under [the] law.” Rubinstein v. Collins, 20 F.3d 160, 1990.
Party in interest may become liable for fraud by mere silent acquiescence and partaking of benefits of fraud. Bransom v. Standard Hardware, Inc., 874 S.W.2d 919, 1994.
When circumstances impose duty to speak and one deliberately remains silent, silence is equivalent to false representation. Fisher Controls International…