576 CHAPTER Twenty-Seven

FRANCHISE — A specified privilege awarded by a government or business firm which awards an exclusive dealership. FRAUD — The intentional and successful employment of any cunning, deception, collusion, or artifice, used to circumvent, cheat or deceive another person whereby that person acts upon it to the loss of property and to legal injury. (Actual Fraud — A deliberate misrepresentation or representation made in reckless disregard other act intended to deceive.) FRAUDS, STATUTE OF — (See Statute of Frauds.) “FREDDIE MAC” — (See FEDERAL HOME LOAN MORTGAGE CORPORATION.) FREEHOLD ESTATE — An estate of indeterminable duration, e.g., fee simple or life estate.