What legal term describes an intentional act to deceive another for unfair gain?

Prepare for the CA Foundation Business Law Exam with our comprehensive quiz. Utilize flashcards and multiple-choice questions, each complete with hints and explanations. Ace your exam confidently!

The legal term that describes an intentional act to deceive another for unfair gain is fraud. Fraud involves a deliberate misrepresentation or concealment of material facts that induces another party to enter into a contract or transaction to their detriment. It is characterized by an intent to deceive, which is crucial for establishing liability in fraud cases.

In comparison to the other options, misrepresentation refers to a false statement or assertion about a material fact that may be negligent or innocent, lacking the deceptive intent that characterizes fraud. Coercion involves using force or threats to compel someone to act against their will, which does not necessarily involve deceit. Consensus-ad-idem, or "meeting of the minds," pertains to the mutual agreement of parties in a contract and does not involve deceitful actions. Therefore, fraud specifically encompasses the intentional deception for unethical gain, making it the most accurate choice in this context.

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