Fraudulent Misrepresentation Elements New York

In New York, a cause of action for fraudulent misrepresentation requires four elements: "(1) the defendant made a material false representation; (2) the defendant intended to defraud the plaintiffs thereby; (3) the plaintiffs reasonably relied upon the representation; (4) the plaintiffs suffered damage as a result of their reliance." Swersky v. Dreyer & Traub, 219 AD2d 321, 326, 643 N.Y.S.2d 33 (1st Dept 1996). However, alleged misrepresentations that are merely promissory in nature are insufficient to support such a claim; "they must be misstatements of material fact or promises made with a present, albeit undisclosed, intent not to perform them". Edelman v. Buchanan, 234 AD2d 675, 650 N.Y.S.2d 874 (3rd Dept 1996).