BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -➢ Fraud is a deliberate deception to secure an unfair or unlawful gain.

Detailed explanation-2: -Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if you lie in order to deprive a person or organization of their money or property, you’re committing fraud.

Detailed explanation-3: -Making a Promise Without Intending to Perform is Deceit. Deceit may consist of a promise, made without the intention of performing it. Civ. Code § 1710(4). Fraud for false promise is a subspecies of an action for deceit, grounded in the notion that a promise to do something necessarily implies an intention to perform.

Detailed explanation-4: -Fraud is defined as the intentional false representation or concealment of a material fact for the purpose of inducing another to act upon it to his or her injury (as defined by the American Institute of Certified Public Accountants).