that breach‚ and lastly is to determine whether the losses were an equitably foreseeable consequence of the defendant’s actions. CONTENTS Negligent misstatement refers to a representation of fact that been carelessly made‚ which is relied on the plaintiff to their advantages (O’Riordan‚ 2007‚ p.1). In 1964‚ the tort of negligent misstatement has been established and it has gained more recognition in this decades. It covers opinions and reality statements made by negligence. However‚ the
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or as profitable as they expected‚ and turnover has declined even further since they took over the business. Are Charlie and/or Harley able to take any action against Max? This essay will discuss the requisite elements for establishing negligent misstatement and the issue of liability to third parties. This area of business law is supported by a number of cases‚ which have established
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Introduction It is imperative to determine whether or not the relationship between Investment Bhd (the Company) and A Bank Bhd (the Bank) is bound as a contract. Forming a legally binding agreement‚ or a contract‚ requires four elements; an offer‚ the acceptance of that offer‚ the intention to be legally bound‚ as well as consideration. Referring to the case of Affin Credit (Malaysia) Sdn Bhd v Yap Yuen Fui‚ the lack of an offer and acceptance will cause an agreement to be declared void from the
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ISSUE: Did Terry commit the tort of negligent misstatement while giving advice to Kevin? RULES: The following elements must be analysed: 1. There is a special relationship between Terry and Kevin where a duty of care is owed by Terry to Kevin (Hedley Byrne v Heller ): a. Terry advised Kevin; b. The advice is of a business or serious nature; c. Terry should know that Kevin intends to rely on his advice; d. It is reasonable in the circumstances for Kevin to rely on Terry’s advice; 2. Terry breached
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Negligent Tort Negligence is neglect or disregard. Tort is a legal misgiving. Negligent tort is a type of tort in the legal system. The concept encompasses that of which an occasion where an individual’s “acts leading to injury are neither expected nor intended.” (Yell‚ 1999) In this paper‚ the elements of a negligent tort‚ the concepts of proximate causation and duty of care‚ and types of remedies for finding tort liability will be explored. Elements of Negligent Tort There are three
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NEGLIGENT ADVICE To prove that negligence exists‚ three elements must be established. DUTY OF CARE Two factors must be established‚ relationship proximity and reasonable foreseeability. According to Hedley Byrne principle(Hedley Byrne v Heller & Co Ltd [1964] AC 465)‚ there was a relationship of circumstantial proximity between a professional financial adviser and client‚ which gave rise to Denise owing Charlie the duty of care because Charlie would rely on Denise with the intention
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Audit Manual Excerpt: Materiality Guidelines-- Planning Materiality and Tolerable Misstatement Planning Materiality This section provides general guidelines for determining planning materiality and tolerable misstatement for audits performed by Willis & Adams. The application of these guidelines requires professional judgment and the facts and circumstances of each individual engagement must be considered. Statement of Financial Accounting Concepts No. 2‚ “Qualitative Characteristics of Accounting
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Odysseus’ Negligent Leadership Throughout his reign as King of France‚ Louis XVI portrayed poor leadership. He was often considered indecisive‚ for this reason many of his men did not trust him. Louis XVI’s desire to expand France’s territory in order to acquire personal glory is comparable to Odysseus’ journey home to Ithaca in order to attain kleos. Not only were their goals similar but both Odysseus and Louis XVI’s men were killed in the process. In ancient Greece‚ Greeks had higher expectations
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to advise‚ but if he takes upon himself to do so‚ he will incur liability if he does so negligently.” ’ House of Lords in Banbury v. Bank of Montreal[1] I. Introduction The issue of legal liability of banks in the provision of negligent advice is one doctrine of law that has evolved through the years. In light of current controversies hounding the UK banking sector‚ it is not far-fetched nay unthinkable to surmise that such act would again be subjected to closer scrutiny and for
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Negligent Tort Deaundra Chatman BUS670: Legal Environment (MFH1446A) Instructor: Leah Westerman Date: January 15‚ 2015 Negligent Tort Manufacturing industries are in the business of making products for the consumer industry‚ products that supposed to be sustainable and have the potential to improve the lives of the people using them. In most cases‚ they get it right; they make a product that does not have any problems when it comes to using it. However‚ in some situations‚ there happens
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