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 ?
But dozens of previous Hollywood movies make us brace for the moment where the movie shifts from reality to fantasy, from honesty to phoniness.
While all artists can and do benefit from some publicity and promotion, the lurking danger is that the created image can be so far removed from reality that it crosses over to phoniness.
Paradoxically, then, for an audience skeptical about the phoniness of other kinds of political messaging, the form of the political meta-meme signals authenticity.
In the parlor, for instance, the cheap carpeting and, strewn across the sofas, a couple of dingy blankets and a thrift-shop sweater adorned with fake pearls not only appeared lifeless and dull against the exuberant phoniness of the Rmax construction but also seemed somehow even phonier despite being real objects.
Three-quarters of what happened in Juneau went against my grain--the backstabbing, the phoniness, and not being forward and honest, it just ate at me.
Whether mocking the phoniness of polite society or brooding on exile, Norwids poems are perhaps less visionary than the means of conjuring elusive visions in the reader.
If a false unity of meaning between two communicators is suspected, the discourse critic must deconstruct or destroy--that is, divide from--he phoniness of oneness.
Playing a thoroughly unpleasant character, Garner, who also co-produced, somewhat overdoes Laura's initial phoniness and her overriding shrillness.
There is so much phoniness in our celebrity culture that employees become hypersensitive to those managers who play the 'me-first' game: first to take credit and first to assign blame
According to O'Reilly, the show will be formatted much like a standard televised presidential debate, albeit "without all the phoniness and pomposity.
Authentic people are deeply comfortable with themselves; they acknowledge without phoniness where they have come from and who they have become, both the good and the not-so-good, through life's accidents and their own hard work and ambition.