- a. Fraud: Intentional deceit, usually for
- personal gain. Actionable fraud consists
- of the following elements:
· A misstatement or omission of a material fact,
- note: Mere puffery, or “seller’s talk,” will not give rise to a cause of action for fraud, because such claims involve opinions, not facts, and therefore cannot be justifiably
- relied upon by a reasonable person.
However, statements of opinion may give rise to a claim of fraud if the party expressing the opinion has a superior knowledge of the subject matter.
· made knowingly or with reckless disregard for the truth,
· and with the intention of deceiving another by inducing them to rely on the misrepresentation,
· on which a reasonable person would justifiably rely to her detriment, and
· on which the injured party did, in fact, rely to her detriment resulting in some harm to the innocent party.