The tort of deceit for inducement into a contract is a tort in English law, but in practice has been replaced by actions under Misrepresentation Act 1967.[28] In the United States, similar torts existed but have become superseded to some degree by contract law and the pure economic loss rule.[29] Historically (and to some degree today), fraudulent (but not negligent[29]) misrepresentation involving damages for economic loss may be awarded under the "benefit-of-the-bargain" rule
which awards the plaintiff the difference between the value represented and the actual value.