The following excerpt is from Harman v. Harper, 914 F.2d 262 (9th Cir. 1990):
The Harpers urge that the court awarded more than the permitted "out-of-pocket" measure of fraud damages. See Gagne v. Bertran 43 Cal.2d 481, 490, 275 P.2d 15 (1954) (fraud damages limited to actual losses suffered because of misrepresentation); Pepper v. Underwood, 122 Cal.Rptr. 343, 48 Cal.App.3rd 698 (1975) (fraud damages limited to out of pocket loss as of the date of fraud, no benefit of the bargain).
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