define fraud.what are the effects of fraud?what are the essentials of fraud?
Answers
Answer:
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (i.e., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation), a criminal law (i.e., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property or legal right but still be an element of another civil or criminal wrong.[1] The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements.[2]
A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a victim.
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Answer:
fraud is a person who is intentional deception to secure unfair or unlawful gain, or to deprive a victim. The Criminal Code provides the general definition for fraud in Canada: proof of detriment, prejudice or risk of prejudice; it is not essential that there be actual loss.
The essentials of fraud are as follows:
(1) There must be a false representation.
(2) The representation must relate to a Fact.
(3) Representation must have been made.
(5) The other party must have been induced to act on such representation.
(6) The other party must have been deceived.