Types of Fraud Flashcards
1
Q
What are the 3 types of fraud?
A
Actual, constructive, and negative.
2
Q
What is actual fraud?
A
Intentional misrepresentation or representation without any regard of the actual facts or the suppression.
3
Q
What is negative fraud?
A
Lying through omission. Agent disclose a material fact in order to enter a contract.
4
Q
What is constructive fraud?
A
Lying without knowing you’re lying.
