alleryStart learning →Under the s.447 definition, must wrongful gain or loss be shown for an act to be fraud?
AYes, gain is needed
BYes, loss is needed
CNo, neither needed
DYes, both are needed
Answer & Solution
Correct answer: C. No, neither needed
The definition covers fraud whether or not there is any wrongful gain or wrongful loss, so intent to deceive suffices.
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