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 ?
National Consumer Fraud Week is an initiative of the Australasian Consumer Fraud Taskforce, of which Consumer Affairs Victoria is a proud member.
FICO (NYSE: FICO), the analytics and decision management software company, said it has introduced FICO Consumer Fraud Control, a mobile app for banks that enables their cardholders to configure card usage controls and transactional alerts.
The plaintiffs claimed that JONAH; its directors, Arthur Goldberg and Elaine Berk; and one of its counselors, Alan Downing, violated New Jersey consumer fraud law by misrepresenting JONAH as scientifically based.
It was alleged that the bank violated the state's consumer fraud act and misled consumers who were seeking mortgage modifications.
Additionally, the plaintiffs claimed that the seller's agent violated the Consumer Fraud Act by misrepresenting the condition of the house and that she also violated the License Act by failing to disclose a known latent defect.
Out of some 810,000 cases of consumer fraud reported, the Federal Trade Commission said there were more than 258,000 instances of identity theft, the top complaint for the eighth year in a row.
Think Safe is a work of 19 chapters covering a wide variety of topics including: 'Section 1--6 chapter' filled with Safety Precautions for Parents, 'Section 2--3 chapters' offering Safety Precautions for Women, 'Section 3--2 chapters' Safety Precautions for the Elderly, 'Section 4--2 chapters' Safety Precautions at Work, 'Section 5--2 chapters' dealing with Consumer Fraud Prevention, 'Section 6--3 chapters' filled with information pertaining to General Safety Precautions, 'Section 7--1 chapter' Protecting the Home.
accusing the retailer of false advertising and consumer fraud through ads stating its Craftsman tool line is ``Made in U.
Identity theft topped the list of consumer fraud complaints to the Federal Trade Commission in 2003, accounting for more than haft the complaints tracked by the agency.
On one hand, you may seek recourse by filing a complaint with the Attorney General's Office Bureau of Consumer Fraud in your state.
Stetson University College of Law's Elder Law Center recently received $300,000 from Attorney General Charlie Crist, the final installment of $700,000 to support Stetson's statewide program to educate elderly residents to avoid consumer fraud.

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