V Pty Ltd owned a small business which it wished to sell. P was in the market to buy such a business. During negotiations, V informed P that the local council was proposing to build a new carpark which was expected to attract a substantial number of new shoppers to the area. In fact, the council had no such plans. A carpark had never even been discussed by the council. P decided to buy the business. The main reason for Ps decision was the healthy state of the businesss accounts (which were accurate). However, P was also persuaded by the potential for increased trade suggested by the carpark proposal. P made no inquiries with the local council. A simple phone call would have established that there were no plans to build a carpark. P has been operating the business for six months and has just discovered the truth about the carpark. P wants to keep the business, but feels that a premium was paid based on the information about the carpark. Advise V whether he can seek damages for the wrong information given by P (do not discuss negligence). - 10 marks

Please use the IRAC format and relevant cases/ Australian Law when answering this question