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 ?
Have a heart Old Phoney, get that brown ale in the post.
It's as phoney as Michael Heseltine (Llanelli)or Woy Jenkins' (Abersychan) speak.
In other words, like the rest of his phoney policies, his sums just don't add up.
PHONEY BLAIR The phoney smile, pretence to care That very dodgy dossier The grinning head there constantly He puts the wind up folk like me The conference speech, the flock in awe At every chance the faithful roar Those trips abroad, he loves to roam The world his stage, no time for home The Iraq War a million screams The thousands blown to smithereens And all this built upon a lie While those who knew just walked on by And then that going for Bush's pup He had the cheek to pick it up If truth prevails then history Will see him thus most will agree A smiling conman, with Bush so dim The truth it never bothered him And out of all this misery He's making millions now we see HIs epitaph upon his stone "Iraq", one word, upon its own.
In what is likely to be the phoney war to end all phoney wars, Hills go just 4-1 that of tonight's starting line-ups, no more than 11 will start next month's Cardiff showpiece.