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Fraud

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I

Inquiring Minds

Guest
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?
 


I AM ALWAYS LIABLE

Senior Member
<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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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 
I

Inquiring Minds

Guest
So, I by your definition I am talking about civil fraud. You must prove that person knowingly withheld information during business transaction in order to say they committed fraud.
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by I AM ALWAYS LIABLE:
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


<HR></BLOCKQUOTE>

 

I AM ALWAYS LIABLE

Senior Member
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Inquiring Minds:
So, I by your definition I am talking about civil fraud. You must prove that person knowingly withheld information during business transaction in order to say they committed fraud.
<HR></BLOCKQUOTE>

My response:

Material information, and information had you known about it, would have changed your position in a "material" manner. Another example: I sell you my business, but I "forget" to tell you that the business has $18,000.00 in outstanding debt on the inventory that's on the premises, that you throught you purchased with the business. The "owner of the inventory" comes in and takes all the inventory, thus putting you out of business. But for your knowledge of the outstanding debts on the inventory, you would not have purchased the business.

IAAL

IAAL



------------------
By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 

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