Promissory Fraud Law and Legal Definition
Promissory fraud is a promise made by the promisor, when s/he had no intention to perform the promise when it was made. However, a promissory fraud liability will be inappropriate if the promisor was unaware of what s/he was promising. Similarly, promissory fraud is inappropriate when a promisor breaches a promise because of changed circumstances. Promissory fraud is one of the ways to win punitive damages for breach of contract. A promissory fraud is also termed as common law fraud.