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Posted By: Corey R. Shanus

These definitions of fraud comes straight out of a law dictionary:

"A false representation of a matter of fact, whether by words or by conduct, by false or misleading allegations, or by concealment of that which should have been disclosed, which deceives and is intended to deceive another so that he shall act upon it to his legal injury."

"A generic term, embracing all multifarious means which human ingenuity can devise, and which are resorted to by one individual to get advantage over another by false suggestions or by suppression of truth, and includes all surprise, trick, cunning, dissembling, and any unfair way by which another is cheated."

Given that the rationale for book bidding is to attempt to persuade prospective bidders that the bids signify genuine interest in the lot by a real bidder (i.e., someone other than the consignor), when in fact they do not, can someone please explain to me why book bidding does not fall within the definition of fraud.