The independent tort of “misrepresentation” usually describes a situation where a misstatement causes intangible pecuniary loss. There are two types of misrepresentation, “intentional misrepresentation” and “negligent misrepresentation.”
Intentional misrepresentation (deceit): To recover for “intentional misrepresentation” (also called “deceit” or “fraud”), P must establish the following elements:
Misrepresentation: A misrepresentation by D;
Scienter:Scienter (i.e., a culpable state of mind - either knowledge of the statement’s falsity or reckless indifference to the truth);
Intent: An intent to induce P’s reliance on the misrepresentation;