In legal terms, fraud signifies a deliberate practice of deception resulting in an unlawful or unfair action. Fraud is commonly classified as a criminal wrong. The motivation behind committing fraud results for different reasons. Some wish to obtain the benefits of value while others falsify the statements for the personal good, which could not be accomplished without committing a crime. The legal dictionary provides four definitions of fraud. The most common definition defines fraud as ‘a deception with the intent to gain personally or financially.’ (LegalDictionary.Net) Other definitions entail the persuasion of others for achieving those goals. Different jurisdictions envision various justifications of fraud which may be seen as a civil wrong, which requires a clear rationale and the evidence or a criminal offense if the intentional deception has been justified. In finance, frauds frequently occur and entail substantial funds for the identified individuals. For instance, a company or a bank may deceive its customer by requiring to purchase additional services. One of the similar cases occurred to the Wells Fargo bank in the United States.
In legal terms, duress stands for the ‘Unlawful pressure exerted upon a person to coerce that person to perform an act that he or she ordinarily would not perform.’ (LegalDictionary.com) In everyday life, some confuse duress with the undue influence. However, the notion of these two concepts differs a lot. The Federal Rules of Civil Procedure regulate the acts of duress. There is a legal requirement for the duress to be pleaded affirmatively. In real life, duress frequently occurs when someone is required to sign a false agreement or execute something without the original will. The forced participation in the alleged crimes would also be considered duress. For instance, of an owner of the company forces someone to sign the agreements entailing some manipulations, it will be considered as an act of duress. Legal duress would then fall under the criminal investigation.
Use your promo and get a custom paper on
"What is Fraud?".
According to the legal dictionary, coercion stands for the intimidation of the victim using the tools of the psychological pressure, threats of physical force. That type of crime may entail accusing others of committing the crimes or threatening of the disclosure of secrets that will damage one’s reputation. In defense, a person who committed a crime of coercion will be protected under regulations for committing a crime against their will. Legally, coercion is seen as part of the duress and the undue influence, the two types of crimes which deprive an individual of their free choices and requiring the actions against the free will. In the organizational settings, coercion may occur when the supervision would threaten the employees with the dismissal for not committing a crime (e.g., signing a fake agreement). Also, in business, disclosing the secret personal relations between the employees may also be seen as coercion.
The definition of the undue influence is primarily used in the business settings. It stands for the physical and moral domination which may deprive a person of the independent judgments. As a result, the undue influence substitutes another person’s objectives instead of their own. The use of excessive insistence, pressure due to authority or relationship as well as the use of personal power are frequently used in the cases of undue influence. In reality, the cases of the undue influence take place when someone takes unfair advantage of somebody else. For instance, a pushy partner in the relationship pressures another party to undertake the decision that will favor their interests in the specific situation. Partners may manipulate one another for achieving the desired outcomes in the conflicts or crisis situations. Usually, they are of the financial nature.
- Bevans, N. (2006). Business law: A hands-on approach. Clifton Park, NY: Delmar Cengage Learning
- Duress. (2018). Retrieved from https://legal-dictionary.thefreedictionary.com/
- Fraud – Definition, Types, Examples and Processes. (2018). Retrieved from https://legaldictionary.net/
- Undue Influence Definition & Example | InvestingAnswers. (2018). Retrieved from http://www.investinganswers.com
