fraud

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Fraud

Any attempt to deceive another for financial gain. A clear example of fraud is selling a new issue that does not really exist. That is, the company can collect money from investors and, rather than use it to finance operations, pocket the money and do nothing. There are a number of types of fraud. Common types include forgery of documents, false claims in insurance, and filing bankruptcy to avoid debt rather than because of financial hardship.

fraud

Deception carried out for the purpose of achieving personal gain while causing injury to another party. For example, selling a new security issue while intentionally concealing important facts related to the issue is fraud.

fraud

the gaining of financial advantage by a person who deliberately deceives another person or business, by mispresenting himself.

fraud

A deceitful practice. Fraud consists of a misrepresentation of a material fact that is relied upon by another party to his or her detriment.There is no requirement that the misrepresentation be intentional.The thing misrepresented must be a fact; it is very difficult to prove fraud when one fails to fulfill his or her obligations but had good intentions in the beginning.

There are three types of fraud:

1. Intentional fraud. Punitive damages may be assessed for this type of fraud.

2. Negligent fraud. As when one makes a statement recklessly but without any intention to deceive, and someone relies on that statement and is injured when it turns out to be false. One example would be a real estate agent telling a buyer that all appliances are new when, in reality, the agent didn't know but thought they looked new. Depending on the degree of recklessness involved, this type of fraud may or may not support punitive damages.

3. Innocent fraud. As when one takes steps to confirm facts but is perhaps mistaken or given mistaken information, and then relays that information to someone else who relied on it and was injured.

The Statute of Frauds is a rule that says certain contracts must be in writing, including contracts having to do with real estate. It has nothing to do with fraud, per se, except to protect against possible fraud by requiring a writing.

References in periodicals archive ?
The company also has a program targeting the Th17 pathway through the inhibition of RORt that is the basis of an exclusive research collaboration with Merck.
The company intends to develop its R&D programs up to a proof-of-concept study in humans in the case of FXR and up to late preclinical stage in the case of RORt.
Star performance Cheltenham's schooling trial for producing a 20-1 winner in Little Rort, whose connections learned how best to ride him from that initiative Quote of the day ``They were bought on the same day, live together and go on their holidays together'' - John Upson on Over Zealous, who races on after winning, and Reach The Clouds, who was retired after coming through his last race Results and analysis start page 80
Owens and Mandala will discuss Lycera's exclusive research collaboration with Merck to discover, develop and commercialize small molecules that target T-helper 17 cells, key mediators of inflammation, through the inhibition of RORt.
Little Rort, trained by Michael Grassick, caused a 10-1 surprise in the
Even if the Government's new 15 per cent `surcharge' for high income earners operates effectively, the Australian superannuation system will remain a major rort for higher income earners, with savings for retirement by the relatively well-off very disproportionately subsidised (via tax concessions) by the state.
But there is no better way of institutionalising a rort for a job broker than making a useless and incompetent scheme compulsory.
Joey Casey partnered his first winner for Michael Grassick by guiding Little Rort to victory in the Guinness 3-Y-O Maiden Hurdle.
It was all down to the final race and the punters had no doubt as they piled on Murtagh's mount Little Rort in the claimer.