Fraud does not need a contract. My understanding is that it has three elements: First, the perpetrator has to provide a false statement as a material fact. Seco

Fraud does not need a contract. My understanding is that it has three elements: First, the perpetrator has to provide a false statement as a material fact. Second, the perpetrator had to have known that the statement was untrue. Third, the perpetrator had to have intended to deceive the victim.