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All of the following are conditions for fraud except:

A) False representation.
B) Injury or loss.
C) Intent.
D) Material reliance.

1 Answer

5 votes

Final answer:

Injury or loss is not a requisite condition for an act to be considered fraud; the potential for loss is what is required. Embezzlement is an example of corporate crime, involving the misappropriation of funds by someone trusted with its care.

Step-by-step explanation:

The question pertains to the conditions required for an act to be considered fraud. In the context of fraud, the elements generally include A) False representation, C) Intent to deceive, and D) Material reliance on the false statement by the victim. However, B) Injury or loss, while often a result of fraud, is not a requisite condition for an act to be considered fraudulent. Rather, the potential for or risk of loss resulting from the fraudulent act is what is required.

In relation to corporate crime, an example of such an offence would be a. Embezzlement, which refers to the misappropriation of funds placed in one's trust or belonging to one's employer.

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