Contract Fraud

Contract Fraud is the crime commited that the persons who, in the course of signing or fulfiling contracts and for thepurpose of illegal possession, by means of fabricating false facts or covering up true facts., obtains fraudulently private or common property ,the amount of which is relatively huge. The object of Contract Fraud which comprehends market trade order and private or common property rights is complicated.The subject of Contract Fraud is general subject,namely, natural persons and corporations.Its objective aspects are as follows: (1) those who sign contracts in the name of a false unit or another person; (2) those who use forged, altered or invalid bills or other false certificates of property rights as guarantee; (3) those who are unable to fulfil contracts practically but trap the other party to go on signing or fulfiling contracts bymeans of fulfiling in advance petty contracts or fulfiling partly contracts; (4) those who flee after receiving the goods, payment for goods, payment in advance or guaranteed property; or (5) those who obtain fraudulently property of the other party by other means.Its subjective aspects are one's straight intention on purpose of illegally possessing others' properties.lt differs from other frauds,breach of faiths and other crimes. The cognizance of Contract Fraud's special situation of crime and the criminal punishment of Contract Fraud.