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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.


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.


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


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 ?
As noted above, the impostor phenomenon, as a construct, also consists of feelings of intellectual phoniness, beliefs that individual success is based on luck or hard work rather than ability, fear of evaluation by others and that one's incompetence will be discovered, and an inability to take pleasure in one's achievements (Clance and Imes, 1978; September et al.
Salinger, Saroyan wrote blistering excoriations of phoniness; like Salinger, too, he had very little to offer in place of phoniness, except for an idealized innocence that, one suspects, can be pretty phony in its own right.
I had to get through the phoniness of me to the real me.
But be careful: They hate anything that smacks of phoniness and can spot it a mile away.
Genuine as the affection between them seems during a touching reunion, Bejart nevertheless brings a characteristic aura of phoniness to this film.
But to be fair, Jencks has become aware of some of PoMo's faults: ersatz, phoniness, camp, Kitsch, the lies perpetrated by an electronic society.
paragraph] The creation of more than fifty new Federal death-penalty crimes is more evidence of the sheer hypocrisy and phoniness of the bill.
Bloom criticizes the Society's activities in dazzling breadth: its alleged cover-up of Peary's failure to reach the North Pole; its practices of selling "memberships" rather than magazine subscriptions and of promoting a governmental agency image; its profits from Kodak's new photographic technologies and armchair tourism; the discourse of nationalism and imperialism; the photographs of African and Asian women presented for the delectation of white male voyeurs; the multicultural phoniness of its recent videos; the Eurocentrism of photojournalists Martin and Osa Johnson in East Africa; and its general whitewash of colonialism.
The easily detected phoniness of the contents of that book were exposed by two concerned Christian writers, Mike Hertenstein and John Trott, in their well-researched book, Selling Satan.
Lonergan's story has been described by The media and Variety as having David Mamet's rhythmic spontaneity and JD Salinger's favorite theme of sensitive kids revolting against adult phoniness.
The guy is such a crude, old school demagogue you cannot help but admire his phoniness.
Interviewers have an uncanny ability to spot phoniness a mile away.