is now accepted that there is a third category of misrepresentation
after fraudulent, and innocent misrepresentations
negligent misrepresentation. An innocent party induced to enter into
a contract by reason of an innocent but negligent misrepresentation
can sue the representor in tort for damages for negligence even when
the latter affirms the contract. The alternative and now, largely
redundant view is that the disagreement is contractual in nature and
therefore, should be remedied according to the law of contract.
professional, any professional such as a valuer and real estate agent
who holds him/herself out as an expert in a certain matter are
subject to a duty of care in the information,
advice given to his/her clients. This area of negligence is probably
the most important tort affecting the property professional as it
covers "economic loss".