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Economic Loss Caused By Negligent Misstatements And Services Notes

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Economic Loss caused by negligent misstatements and services Requirements for Hedley Byrne liability Actionable Damage Duty of Care

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Policy: Actionable Misstatement o Express Statement of Fact
? May either be a partial statement which is true in itself but neglects relevant material that changes the accuracy of the whole statement

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E.g. Used Car Salesman o Making a partial statement, true in itself e.g. tires are good
? But withholding information that changes nature of the disclosure e.g. major engine damage o You need full disclosure, not partial disclosure o You can't be economical with the truth
? OR a statement that purports to be whole but is completely or partially inaccurate o OR Opinion impliedly backed up by facts
? An opinion, underpinned by fact in that the representor believes it to be true and suggests he knows facts that justify this opinion

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Where in fact, if representor had made proper inquiries into the facts, his opinion would be different. o Which is not intended to cause loss
? This falls under Fraud

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Foreseeability: D ought to have foreseen that C will rely on the advice o Lord Morris in Hedley Bryne
? If in a sphere in which D is placed that others could reasonably rely upon his judgment ... to make careful inquiry,

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D takes it upon himself to give information or advice to,

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or allows his information or advice to be passed on to, o C who, as he knows or should know, will place reliance upon it,
? then a duty of care will arise

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Proximity: And there both exists a special relationship between C and D o Much tighter than mere foreseeability that Z may rely on your words
? You don't need a contractual relationship

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But you do need a sufficiently "proximate" one

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Lord Devlin: where the relationship is one akin to contract o Or a contract would arise but for the lack of consideration

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Lord Reid: o where it is plain that advisee was trusting advisor to exercise such a degree of care as the circumstances required,
? and where advisor gave the information or advice when he knew or ought to have known that the inquirer was relying on him

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