What constitutes a false representation of a fact made knowingly or without belief in its truth?

A false representation of a fact that is made knowingly or without belief in its truth is defined as fraud. Fraud involves intentionally misleading someone through false statements or deceptive actions for the purpose of financial or personal gain. This definition highlights the importance of intent and knowledge; for an act to be classified as fraud, the perpetrator must be aware that their representation is false or be indifferent to the truth of the statement they are making.

In contrast, truth is self-explanatory and does not apply as it affirms the accuracy of information. Theft involves the unlawful taking of someone else's property, which does not necessarily include any misrepresentation of facts. Error refers to an unintentional mistake or misunderstanding, which lacks the element of deceit intrinsic to fraud. Thus, the correct choice effectively captures the essence of intentional misleading that characterizes fraudulent activity.