Avon Hardware Co. v. Ace Hardware Corp.

Court properly dismissed complaint alleging common law and statutory fraud based on allegedly misleading historical data as to performance of existing stores in parties' franchise agreement. Fraud is based on false statement of fact, not of opinion as to projected sales data. Plaintiffs failed to allege required elements of materiality and reasonable reliance, and cautionary language in documents renders any reliance unreasonable. (CONNORS and CUNNINGHAM, concurring.)