Which of the following statements is true regarding the definition of "fraud" in a contract according to the section 17 of Indian Contract Act 1872?
1
Mere silence about facts likely to affect willingness to enter a contract is always considered fraud.
2
Fraud only includes acts committed by a party to a contract and not by their agent.
3
A promise made with the intention of performing it cannot be considered fraud.
4
Mere silence about facts likely to affect willingness to enter a contract is not fraud unless the circumstances require disclosure or the silence itself is equivalent to speech.