§440.920. Definition of Fraud

Latest version.

"Fraud" is generally defined as an intentional misrepresentation of a material existing fact made by one person to another with knowledge of its falsity and for the purpose of inducing the other person to act, and upon which the other person relies with resulting injury or damage. Fraud may also be made by an omission or purposeful failure to state material facts, when nondisclosure makes other statements misleading.

(Source: Added at 36 Ill. Reg. 8246, effective May 18, 2012)

                    
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