What is the difference between civil fraud and statutory fraud?

Civil fraud and statutory fraud are two different types of fraud. Civil fraud occurs when a person or entity intentionally misleads or deceives another person or entity in order to gain an unfair or illegal advantage. This type of fraud is governed by common law, which is based on case law rather than statutory law. Statutory fraud occurs when a person or entity violates a statutorily imposed duty in order to gain an illegal advantage. This type of fraud is governed by statutory law, which is based on laws passed by a state or federal government. In New York, a person can be held civilly liable for fraud if they intentionally mislead someone else in order to gain an illegal advantage. This is often done through false statements or deceptive practices that are meant to influence someone’s business or personal decisions. For example, if a person provides false information about the value of a product in order to sell it at a higher price, they could be held liable for civil fraud. Statutory fraud, on the other hand, occurs when a person violates a law or regulation that’s designed to protect the public from harm. Examples of statutory fraud in New York include insurance fraud, securities fraud, and tax fraud. In these cases, the person or entity will be held liable under specific state laws that were created to protect people from these types of activities.

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What is the difference between civil fraud and statutory fraud?

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