FRAUD
A frequently litigated
issue in the real estate area is fraud. Fraud is loosely defined as a misrepresentation.
The misrepresentation can be intentional, negligent or innocent. The fraud can
be perpetrated by means of an affirmative misrepresentation or by means of an
omission. The remedy for fraud is damages which are generally calculated to put
people in the same position in which they would have been but for the fraud. In
order to get damages, a lawsuit must be filed against the perpetrators. In extreme
cases, punitive damages may also be awarded.