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Columbia Encyclopedia entry: fraud
Fraud, in law, willful misrepresentation intended to deprive another of some right. The offense, generally only a tort, 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 fiduciary). 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 negligence, 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) damages 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.
Wikipedia search results for: Fraud
From Wikipedia, the free encyclopedia
In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and is also a civil law violation. Many hoaxes are fraudulent, although those not made for personal gain are not technically frauds. Defrauding people of money is presumably the most common type of fraud, but there have also been many fraudulent "discoveries" in art, archaeology, and science. Fraud can be committed through many methods, including mail, wire, phone, and the internet. The difficulty of checking identity and legitimacy online, and the ease with which...more »
Columbia Encyclopedia search results: fraud
Results 1 - 10  of 154
  • literary frauds

    Literary frauds, manuscripts that are presented to the public as works of famous authors but that are actually forgeries or imitations. Literary frauds are perpetrated for various reasons—occa...

  • Frauds, Statute of

    Frauds, Statute of, basis of most modern laws requiring that certain promises must be in writing in order to be enforceable; it was passed by the English Parliament in 1677. In the United Stat...

  • Yazoo land fraud

    Yazoo land fraud, name given to the sale in 1795 by an act of the Georgia legislature of vast holdings in the Yazoo River country to four land companies following the wholesale bribery of the ...

  • whistle-blowing

    Whistle-blowing, exposure of fraud and abuse by an employee. The federal law that legitimated the concept of the whistle-blower, the False Claims Act (1863, revised 1986), was created to comba...

  • corrupt practices

    Corrupt practices, in politics, fraud connected with elections. The term also refers to various offenses by public officials, including bribery, the sale of offices, granting of public contrac...

  • Denby, Edwin

    Denby, Edwin, 1870–1929, U.S. Secretary of the Navy (1921–24), b. Evansville, Ind. President Harding appointed him to the cabinet. In 1924 he was involved in the scandal about the oil reserves...

  • Fletcher v. Peck

    Fletcher v. Peck, case decided by the U.S. Supreme Court in 1810, involving the Yazoo land fraud. The court ruled that an act of the Georgia legislature rescinding a land grant was unconstitut...

  • Zia ul-Haq, Mohammad

    Zia ul-Haq, Mohammad, 1924–88, Pakistani military and political leader. Named general and chief of staff by Zulfikar Ali Bhutto in 1976, he declared martial law in July, 1977, in response to a...

  • identity theft

    Identity theft, the use of one person's personal information by another to commit fraud or other crimes. The most common forms of identity theft occur when someone obtains another person's soc...

  • Vargas, Getúlio Dornelles

    Vargas, Getúlio Dornelles, 1883–1954, Brazilian statesman, twice president (1930–45, 1951–54). The popular governor of Rio Grande do Sul (1928–30), he ran for the presidency in 1930, was defea...

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