A ripoff (or rip-off) is a grossly unfavorable

financial transaction A financial transaction is an Contract, agreement, or communication, between a buyer and seller to exchange goods, Service (economics), services, or assets for payment. Any transaction involves a change in the status of the finances of two or mo ...

. It originated as slang that has entered into standard English usage as a business term. Usually it refers to an incident in which a person is overcharged for something, or receives goods or services not of the standard expected for the price. A ripoff is usually distinguished from a

scam A scam, or a confidence trick, is an attempt to defraud a person or group after first gaining their Trust (emotion), trust. Confidence tricks exploit victims using a combination of the victim's credulity, naivety, compassion, vanity, confidence ...

in that a scam involves wrongdoing such as a

fraud In law, fraud is intent (law), intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Fraud can violate Civil law (common law), civil law (e.g., a fraud victim may sue the fraud perpetrato ...

; a ripoff may be considered excessive, but not illegal.

References

{{Reflist Pricing controversies Fraud

See also

References