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 ?
According to the agency's figures, while one in seven British adults have committed one or more types of consumer fraud, two in three know someone who has.
The median reported individual loss to romance scams is USD 2,600, seven times higher than other consumer frauds reported in 2018.
Currently, our consumer fraud reports are at a 7-year low and less than 0.05 percent, or 5 basis points, of all transactions conducted through MoneyGram systems are reported as fraudulent.
In addition, the suit seeks an order requiring Janssen halt all unlawful practices under the Consumer Fraud Act, correct its misrepresentations and "abate the public nuisance that its deceptive marketing has been a substantial factor in creating."
Unlike their regional and global counterparts, Philippine respondents reported that fraud committed by consumer or Consumer Fraud is the most disruptive of all types of economic crime.
Ahead of Cybercrime is consumer fraud where customers exploit loopholes in the designing of financial products or instruments to perpetrate fraud.
Whether you are covering occupational fraud, data breaches, corruption, insider trading, consumer fraud, insurance fraud, charity fraud or any variety of issues, CFE can help.
He also has 14 years of private practice experience in prominent national law firms, where he represented clients in matters involving commercial litigation, intellectual property, consumer fraud, antitrust, class actions, mergers and acquisitions, and software development processes.
The suit alleges Apple violated consumer fraud laws.A similar lawsuit was filed on Thursday in Los Angeles.
Phone scams target businesses, and use Google, loan, and credit card schemes to drive consumer fraud campaigns, according to Atlanta-based Pindrop Labs' analysis of some 100,000 calls from 2016's first half.
The National Consumers League (NCL) in Washington, D.C., unveiled an updated Fraud.org, its consumer fraud education Website.
In June, JONAH, an organization that purports to "wor[k] with those struggling with unwanted same-sex sexual attractions (SSA) and with families whose loved ones are involved in homosexuality," was found guilty of consumer fraud. In that case, five plaintiffsthree former JONAH clients, and two of their motherswere awarded damages after having filed suit in 2012.

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