It is unlawful for a person, in connection with the offer, sale, or purchase of subdivided land directly or indirectly, to knowingly

(1) employ a device, scheme, or artifice to defraud;

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Terms Used In Alaska Statutes 34.55.006

  • Fraud: Intentional deception resulting in injury to another.
  • offer: includes every inducement, solicitation, or attempt to encourage a person to acquire an interest in land, if undertaken for gain or profit. See Alaska Statutes 34.55.044
  • person: means an individual, corporation, government, or governmental subdivision or agency, business trust, estate, trust, partnership, unincorporated association, two or more of any of them having a joint or common interest, or any other legal or commercial entity. See Alaska Statutes 34.55.044
(2) make an untrue statement of a material fact or omit a statement of a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or
(3) engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon a person.