What is Actionable Fraud?

Legal Definition
Deception practiced in order to induce another to part with property or surrender some legai right; a false representation made with an intention to deceive; may be committed by stating what la known to be false or by professing knowledge of the truth of a statement which is false, but in either case, the essential ingredient is a falsehood uttered with intent to deceive. Marsh v. Falker, 40 N. Y. 575 ; Farrington v. Bullard, 40 Barb. (N. Y.) 512; Hecht v. Metzler, 14 Utah, 408, 48 Pac. 37, 60 Am. St Rep. 906; Sawyer v. Prickett, 19 Wall. 146, 22 L. Ed. 105.
-- Black's Law Dictionary