783. Right of representee to affirm or disaffirm the contract.

A representee1 who has been induced2 by misrepresentation, whether fraudulent or innocent3, to enter into a contract or other binding transaction with the representor4, has, on discovery of the real facts, in the first instance, a right of election only. He may either affirm or disaffirm the contract or transaction, and, if he disaffirms it, give notice to the representor and demand from him a complete restoration of the status quo. In the event of his demand not being complied with he may, subject to certain conditions5 and affirmative defences6, institute proceedings for the purpose of having the contract