dissenting.
I concur in the result the majority reaches on the issue of fraud. Otherwise, I respectfully dissent. No matter how finely the line is drawn, at the end of the day count one of Wells’ complaint sounds in negligence. In determining the applicability of the statutes of limitation, we look to the substance of the cause of action rather than the form in which it was pleaded. Klineman, Rose & Wolf, P.C. v. North Am. Lab. Co., 656 N.E.2d 1206, 1207 (Ind.Ct.App.1995), trans. denied¡ In-sul-Mark Midwest, Inc. v. Modern Materials, Inc., 594 N.E.2d 459, 464 (Ind.Ct.App.1992), adopted in part, 612 N.E.2d 550 (Ind.1993). The substance of the cause of action is ascertained by an inquiry into the nature of the alleged harm and not by reference to the theories of recovery advanced in the complaint. Whitehouse v. Quinn, 477 N.E.2d *1252270, 274 (Ind.1985); Insul-Mark, 594 N.E.2d at 464.
In this ease Wells’ complaint for breach of contract alleges that “the Bank’s actions sufficiently damaged Mr. Wells’ business and personal reputation and credibility [such] that his capacity to continue to operate [Wells’ business] was destroyed.” R. at 8. The complaint further alleges that “the Bank failed to notify Mr. Wells of its decision to dishonor said checks in a timely manner communicating its decision instead to a disinterested third party further impugning Mr. Wells’ personal and business reputation.” R. at 7. The complaint asserts that as a result of the Bank’s actions, Wells suffered lost income in the amount of $17.5 million plus interest. The substance of Wells’ alleged breach of contract claim is to obtain compensation for damages sustained to his personal and business reputation and credibility. However, damages as a result of injury to reputation and credibility are properly recoverable in a tort action rather than in an action for breach of contract. See, e.g., Greives v. Greenwood, 550 N.E.2d 334, 338 (Ind.Ct.App.1990) (damages for loss of reputation are only available in actions for libel, slander, abuse of process, malicious prosecution and third party contract interference; these intentional torts afford this remedy because the result is foreseeable); Indiana & Michigan Elec. Co. v. Terre Haute Indus., Inc., 507 N.E.2d 588, 607 (Ind.Ct.App.1987), trans. denied, 525 N.E.2d 1247 (Ind.1988) (in breach of contract action “[n]o authority exists for the proposition that future profits are recoverable for loss of face in the industry”); Claise v. Bernardi, 413 N.E.2d 609, 611 (Ind.Ct.App.1980) (damages for injury to credit and reputation are ordinarily recoverable in tort actions for libel, slander, malicious prosecution, and abuse of process rather than in breach of contract action).
In this case the nature of the alleged harm is damage to Wells’s personal and business reputation and credibility, and thus the substance of his cause of action is for personal injuries. A claim for personal injury must be commenced within two years after its accrual. I.C. § 34-1-2-2. Wells did not initiate his action against the Bank until 1994, three years after his claim against the Bank accrued. Accordingly I dissent and would affirm the trial court on this issue.