For example, in Sim Lim cases, customers are tricked into signing a contract where they won't get their phones.
However, what the shop did is technically legal. I mean the customer sign a contract.
Technically, every time I offer people to download an e-book, for example, I can put terms that people agree to be my slave somewhere on the contract or pay me $1 million dollar. Not that it'll be enforceable in court, or is it?
Technically insurance agents can say that the whole money is invested. Somewhere deep in the contract there could be a term saying that there is a fee of 100% of all money put, for example. The last one is pretty real and happen a lot.
Another sample could be Trump's university. Most of people there is unhappy with the money.
So it's not technically a fraud. It's legal. Just like time share sells.
But it's not normal win win trade either.
So what is it?