Business, Legal & Accounting Glossary
n. the use of deceit or trick to cause someone to act to his/her disadvantage, such as signing an agreement or deeding away real property. The heart of this type of fraud is misleading the other party as to the facts upon which he/she will base his/her decision to act. Example: “there will be tax advantages to you if you let me take title to your property,” or “you don’t have to read the rest of the contract-it is just routine legal language” but actually includes a balloon payment.
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This glossary post was last updated: 28th April, 2020 | 0 Views.