A misrepresentation is a positive statement of fact or law1, which is made or adopted by a party to a contract and is untrue. It may be made fraudulently, carelessly or innocently2. Where one person ('the representor')3 makes a misrepresentation4 to another ('the representee')5 which has the object and result of inducing the representee to enter into a contract or other binding transaction with him, the representee may generally6 elect to
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