Economic loss (and negligent misstatement)
- Created by: alexstrapps
- Created on: 08-05-19 09:48
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- economic loss
- consequential economic loss
- can only claim for economic loss that is a direct result of injury or damage to property
- Spartan Steel v Martin
- can't recover damages for pure economic loss in tort
- Murphy v Brentwood District Council
- Causation
- Wagon Mound No. 1
- c can claim for consequential economic loss but not pure economic loss as this is not a direct consequence of the original act
- can only claim for economic loss that is a direct result of injury or damage to property
- loss caused by negligent misstatement
- conditions must be established to see if d owes c a doc
- Hedley Byrne v Heller (1964)
- 1; special trustworthy relationship between c and d
- Yianni v Edwin Evans (1981)
- Caparo v Dickman
- 2; person giving advice must possess special skill relating to the advice given
- Mutual life v Evatt
- 3; party receiving advice acts in reliance on it to their detriment
- Fasteners ltd v Marks
- White v Jones
- held; doc was owed as parties had special relationship and d knew he was being relied upon
- d not usually liable for statements made informally or in a social situation
- Chaudry v Prabhaker
- held; d gave advice in social sitiation but possesed relevant expertise and knew he was being relied upon, so he was liable
- Chaudry v Prabhaker
- once DOC established, refer to breach + state who defendant is compared to
- finally mention if there's a DOC and breach c will be able to claim for damages
- conditions must be established to see if d owes c a doc
- consequential economic loss
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