What is Fraud?
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What is Fraud
Colorado law defines the elements of fraud. To prevail on a claim for fraud, you have to prove the following elements in court.
First, there must be an intentional misrepresentation of fact—whether by words or conduct, by false or misleading representations, or by concealment of things that should have been disclosed. This can be a statement by another person or some type of “guarantee” by a business.
Second, you must prove that the person making the misrepresentation knew that the representation was false. This can be difficult to do because you must prove another person’s state of mind, their intent. An innocent mistake or an honest misstatement won’t necessarily meet this element.
Third, the purpose of making the representation must be to induce another person to act—and that person must reasonably rely on it. For example, it is not enough to promise someone a unicorn and then fail to deliver one—because relying on that statement likely was not reasonable. On the other hand, a knowledgeable rancher who makes false statements about the breeding of his herd could be held liable for fraud if someone else relies on those statements because it is reasonable to expect an experienced rancher to know such matters.
Finally, the misrepresentation must have caused damages. As with most of the claims in law, damages are usually monetary damages.
If you have been a victim of some type of fraud—or if someone else is accusing you of committing fraud—the attorneys at Belzer Law can evaluate the facts of your case, discuss the elements of fraud with you, and advise you on the strengths and defenses relevant in your matter.
Guiding you toward success at every step.
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