Fraud- (Meaning & Definition)

Fraud- (Meaning & Definition)

Fraud- (Meaning & Definition)

Dishonest conduct designed to persuade another person to give something of a value by lying, repeating something that is or ought to have been known by the fraudulent party to be false or untrue, or by concealing or hiding a relevant fact from the other party. Fraud enables  a court to void a contract or to set aside a judgment, and can also result into criminal liability.

A person who defrauds creditors of a company shall be held liable personally.

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