fraud

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fraud,

in law, willful misrepresentation intended to deprive another of some right. The offense, generally only a torttort,
in law, the violation of some duty clearly set by law, not by a specific agreement between two parties, as in breach of contract. When such a duty is breached, the injured party has the right to institute suit for compensatory damages.
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, may also constitute the crime of false pretenses. Frauds are either actual or constructive. An actual fraud requires that the act be motivated by the desire to deceive another to his harm, while a constructive fraud is a presumption of overreaching conduct that arises when a profit is made from a relation of trust (see fiduciaryfiduciary
, in law, a person who is obliged to discharge faithfully a responsibility of trust toward another. Among the common fiduciary relationships are guardian to ward, parent to child, lawyer to client, corporate director to corporation, trustee to trust, and business
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). The courts have found it undesirable to make a rigid definition of the type of misrepresentation that amounts to actual fraud and have preferred to consider individually the factors in each case. The misrepresentation may be a positive lie, a failure to disclose information, or even a statement made in reckless disregard of possible inaccuracy. Actual fraud can never be the result of accident or negligencenegligence,
in law, especially tort law, the breach of an obligation (duty) to act with care, or the failure to act as a reasonable and prudent person would under similar circumstances.
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, because of the requirement that the act be intended to deceive. The question of commission may depend upon the competence and commercial knowledge of the alleged victim. Thus dealings with a minor, a lunatic, a feeble-minded person, a drunkard, or (in former times) a married woman are scrutinized more closely than dealings with an experienced businessman. A lawsuit based upon actual or constructive fraud must specify the fraudulent act, the plaintiff's reliance on it, and the loss suffered. The remedy granted to the plaintiff in most cases is either compensatory (and possibly punitive) damagesdamages,
money award that the judgment of a court requires the defendant in a suit to pay to the plaintiff as compensation for the loss or injury inflicted. Damages are the form of legal redress most commonly sought.
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 for the injury or cancellation of the contract or other agreement and the restoration of the parties to their former status. In a few states of the United States both damages and cancellation are available. In certain suits based upon a contract, fraud may be introduced as a defense.
References in periodicals archive ?
Many people are not aware that the Consumer Fraud Act has established a means to seek protection and damages from those who have abused the consumer's rights through unconscionable commercial practices and unlawful acts which include deception, fraud, false pretenses, false promises, misrepresentation, or the knowing concealment, suppression or omission of any material fact with intent.
This approach can lead to consumer fraud and other deceptive practices.
Media Contact: Blake Thomas, Consumer Fraud Legal Services, 800-568-0430, attorney@fraudlegalservices.
Fraud concerning the elderly continues to be a serious and growing problem in Florida," said Professor Rebecca Morgan, director of Stetson's Center for Excellence in Elder Law, adding that Stetson's program would educate senior consumers on how to spot fraud, how to avoid becoming a victim of consumer fraud, and what actions to take if they become victims.
New research from Mercator Advisory Group, Proactive Consumer Fraud Communications: Don't Call Me, I'll Call You, examines how this paradigm is changing and looks at the impact this is having on contact center services, issuer support strategies, and direct-to-consumer apps.
In light of the wealth of consumer-oriented publications, it might seem as if the last thing readers need is another book on consumer fraud.
5, 2015/PRNewswire/ -- FICO (NYSE: FICO), the analytics and decision management software company, today introduced FICO Consumer Fraud Control , a new solution for banks that enables their cardholders to configure card usage controls and transactional alerts via the bank's mobile app.
NEW JERSEY -- A New Jersey jury found a gay-to-straight conversion therapy organization guilty of consumer fraud in state Superior Court June 25.
A[cedilla] Consumer Protection and Antitrust Division (CPAT) enforces the state s consumer fraud and Do Not Call laws, investigates and prosecutes consumer fraud cases, and enforces the state s antitrust statutes.
Bank of America Corp (NYSE: BAC) is discussing a settlement with Arizona over a consumer fraud lawsuit.
The first reporting centre in the country allows people to report identity theft, payment theft and consumer fraud.

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