<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Inquiring Minds:
To say someone committed fraud what questions must be ask to determine if the person did committ fraud. I suppose my question is What are the elements of fraud?<HR></BLOCKQUOTE>
My response:
Are you talking about Civil Fraud or Criminal Fraud. Civil fraud, basically, is
"material" information known by one and hidden, and but for it's disclosure, would have materially changed the decision making of another. For example, I sell you my car, but you discover that I painted over a very rusty portion of the car. Had you known that fact, you would not have purchased the car, or would not have purchased the car at the amount you paid.
IAAL
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