A party who has been a victim of fraud in the inducement can:

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A party who has been a victim of fraud in the inducement can either rescind the contract or collect damages. Rescinding the contract means that the contract is cancelled and the parties are restored to their pre-contractual positions. Collecting damages means that the injured party can be compensated for the losses incurred because of the fraud. Both remedies may not be available at the same time, but the injured party has the option to choose between them.

A Party Who Has Been a Victim of Fraud in the Inducement