It's a bad idea to build a business around other's content.
If you are doing this in small scale, your site would risk being banned by Google for too much duplicate content.
If you are doing it big, you'll risk getting notice from Yelp and probably get sued.
You don't have copyright of the content thus you can't use it beyond "fair use". The copyright of reviews in Yelp belongs to the users who submitted them, but there should be some agreement that only Yelp can use it and can handle the copyright issue on behalf of the user.
There is a similar discussion in Quora: http://www.quora.com/Web-Scraping/What-would-be-the-implications-of-scraping-Yelp-reviews-for-the-purpose-of-providing-local-businesses-with-better-sentiment-analysis
You can see Yelp only provide very limited result from API. The reviews are their treasure, they'll use every methods to protect them.