A false representation by means of a statement or conduct made knowingly or recklessly in order to gain a material advantage.

When a contract is found to be based on fraud, it becomes a voidable transaction and the affected party can repudiate it. The result of repudiation is that the aggrieved party ill be restored to the original position and the party at fault can be compelled either to return the property or to compensate the aggrieved party. [Hussain Bhai vs. Faridasons Ltd. PLD 1960 (Kar) 291]

When proved, question of limitation does not arise. [Mohammad Ali vs. Burmah Eastern (1986) 38 DLR (AD) 41]

Allegation about fraud- party alleging must prove it. [Jobed Ali Sarkar vs. Dr. Sultan Ahmed (1974) 40 DLR 545]

See, section 17 of the Contract Act, 1872.