Misrepresentation in contract law - Section 18 of Indian Contract Act 1872 - Free consent

Misrepresentation in contract law is a false statement of a material fact, made by one party, that induces the other party to enter into a contract, making the contract voidable and potentially entitling the misled party to rescission (cancellation) and/or damages. There are generally three types: fraudulent, where the statement is known to be false or made with reckless disregard for the truth; negligent, where the statement is made carelessly; and innocent, where the statement is made honestly but is untrue.

Elements of Misrepresentation
To establish misrepresentation, the following elements are typically required:
A representation: An untrue statement of fact made by one party to another.
Its falsity: The statement must be a false statement.
Materiality: The false statement must be about a material fact—one that affects a party's decision to enter the contract.
Reliance: The party receiving the statement must have relied on it.
Loss: The innocent party must have suffered some harm or loss as a result of the reliance.

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