CA Foundation Exam > CA Foundation Questions > Fraud may be committed bya)A party to the con...
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Fraud may be committed by
- a)A party to the contract
- b)An agent of the party to the contract
- c)Any person in connivance with a party to contract
- d)Any of the above.
Correct answer is option 'D'. Can you explain this answer?
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Fraud may be committed bya)A party to the contractb)An agent of the pa...
Understanding Fraud in Contracts
Fraud in the context of contracts refers to deception intentionally used to secure unfair or unlawful gain. It can occur in various forms and can involve multiple parties.
Who Can Commit Fraud?
Fraud can be committed by:
Why Option 'D' is Correct
The correct answer is option 'D' because:
In conclusion, understanding that fraud can be perpetrated by a range of individuals highlights the importance of vigilance in contractual dealings.
Fraud in the context of contracts refers to deception intentionally used to secure unfair or unlawful gain. It can occur in various forms and can involve multiple parties.
Who Can Commit Fraud?
Fraud can be committed by:
- A party to the contract: This refers to any individual or entity directly involved in the agreement who may deliberately provide false information or conceal facts to mislead the other party.
- An agent of the party to the contract: Agents, who act on behalf of a party, can also engage in fraudulent activities. If an agent misrepresents information or acts deceitfully while executing their duties, the principal (the party they represent) may still be held liable.
- Any person in connivance with a party to the contract: Individuals who are not directly part of the contract but collude with a party can also commit fraud. This could include third parties who assist in executing the fraudulent scheme.
Why Option 'D' is Correct
The correct answer is option 'D' because:
- Fraud can arise from multiple sources, including parties directly involved, their agents, and even outsiders.
- All these individuals can contribute to or facilitate the fraudulent act, thereby making them liable.
- The law recognizes the complexity of fraudulent schemes, which often involve various actors working together.
In conclusion, understanding that fraud can be perpetrated by a range of individuals highlights the importance of vigilance in contractual dealings.
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Fraud may be committed bya)A party to the contractb)An agent of the party to the contractc)Any person in connivance with a party to contractd)Any of the above.Correct answer is option 'D'. Can you explain this answer?
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