703. Distinction between representation and contractual term.

703.     Distinction between representation and contractual term.

A representation must be distinguished from a statement which, while relating to a matter of fact, is intended by the parties to have contractual force and is a contractual term1. However, where a person has entered into a contract after a misrepresentation has been made to him, then, if otherwise he would be entitled to rescind the contract without alleging fraud2, he is entitled to rescind notwithstanding that the misrepresentation has become a term of the contract or the contract has been performed3. Furthermore, in appropriate