780. Remedies for fraudulent misrepresentation.

(9)     The Effect of Misrepresentation

780.     Remedies for fraudulent misrepresentation.

Where a representor1 has, by way of fraudulent misrepresentation2, induced a representee3 to alter his position4, other than by entering into a contract or other binding transaction5 with the representor, the representee will be able to bring a claim for damages at common law6 or for an account of profits in equity7, but he will not be entitled to any other form of relief.

However, where the representee has been induced by fraudulent misrepresentation to enter into a contract or other binding transaction with the representor,