Mr. Smith negotiates with a bookstore owner to buy the store. The owner informed Mr. Smith that the store has been generated high revenues for the past few years. Mr. Smith hires an accountant to examine the store's accounts and the accountant strongly advised Mr. Smith to buy the store.

After a year, Mr. Smith thoroughly examined the accounts and found out that they had been wrongly done and he has been suffering losses.

Country: Singapore

Question: Can Mr. Smith rescind the contract? If so, how could I explain it using features of misrepresentation and a decided legal case