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Overview

negligent misstatement

Subject: Law

A false statement of fact made honestly but carelessly. A statement of opinion may be treated as a statement of fact if it carries the implication that the person making it has reasonable ...

negligent misstatement

negligent misstatement   Quick reference

A Dictionary of Law Enforcement (2 ed.)

Reference type:
Subject Reference
Current Version:
2015
Subject:
Law
Length:
188 words

... misstatement ( negligent misrepresentation ) A false statement of fact made honestly but carelessly. A statement of opinion may be treated as a statement of fact if it carries the implication that the person making it has reasonable grounds for his opinion. A negligent misstatement is only actionable in tort if there has been breach of a duty to take care in making the statement that has caused damage to the claimant. There is no general duty of care in making statements, particularly in relation to statements on financial matters. Responsibility...

negligent misstatement

negligent misstatement   Quick reference

A Dictionary of Law (9 ed. )

Reference type:
Subject Reference
Current Version:
2018
Subject:
Law
Length:
302 words

...A negligent misstatement is only actionable in tort if there has been breach of a duty to take care in making the statement that has caused damage to the claimant. There is no general duty of care in making statements, particularly in relation to statements on financial matters. Responsibility for negligent misstatements is imposed only if they were made in circumstances that made it reasonable to rely on them ( Hedley Byrne v Heller & Partners Ltd [ 1964 ] AC 465 (HL); Caparo Industries plc v Dickman [ 1990 ] 2 AC 605 (HL)). If a negligent misstatement...

negligent misstatement

negligent misstatement  

Reference type:
Overview Page
Subject:
Law
A false statement of fact made honestly but carelessly. A statement of opinion may be treated as a statement of fact if it carries the implication that the person making it has reasonable grounds for ...
misstatement

misstatement  

Reference type:
Overview Page
Subject:
Law
Any incorrect or incomplete statement. Its legal effect varies with context (e.g. in a takeover document it may breach Corporations Act 2001 (Cth) s 670A. Negligent misstatement (see economic loss) ...
misfeasance

misfeasance  

Reference type:
Overview Page
Subject:
Law
N.1 The negligent or otherwise improper performance of a lawful act.2 (in company law) An act by an officer of a company in the nature of a breach of trust or breach of duty, particularly relating to ...
duty of care

duty of care  

Reference type:
Overview Page
Subject:
Law
The obligation to avoid negligence, particularly to take reasonable care not to cause physical, economic, or emotional loss or harm to others.
misstatement

misstatement   Reference library

Australian Law Dictionary (3 ed.)

Reference type:
Subject Reference
Current Version:
2018
Subject:
Law
Length:
57 words

...misstatement Any incorrect or incomplete statement. Its legal effect varies with context (e.g. in a takeover document it may breach Corporations Act 2001 (Cth) s 670A). Negligent misstatement ( see economic loss ) is a cause of action in tort for detrimental advice: San Sebastian Pty Ltd v The Minister ( 1986 ) 162 CLR 341. See also innocent misrepresentation...

fraud and misrepresentation

fraud and misrepresentation   Reference library

The New Oxford Companion to Law

Reference type:
Subject Reference
Current Version:
2009
Subject:
Law
Length:
594 words

...the victim of a misstatement or misrepresentation depends in part upon whether the misstatement or misrepresentation was made fraudulently, negligently, or non‐negligently (innocently). A misstatement or misrepresentation is made fraudulently if the maker knows that it is false or knows that it may be false but makes it anyway without honestly believing in its truth. It is often difficult to establish fraud. A person makes a misstatement or misrepresentation negligently if they fail to take reasonable care to ascertain its truth. A misstatement or...

economic loss

economic loss   Reference library

Australian Law Dictionary (3 ed.)

Reference type:
Subject Reference
Current Version:
2018
Subject:
Law
Length:
179 words

...or injury (e.g. losing money as a result of negligent advice). Historically courts held that there was no duty of care with respect to pure economic loss, for various policy reasons. Over time, this view has changed and developed to allow compensation for loss in certain circumstances such as professionals giving advice. Courts now recognise two categories of pure economic loss: relational loss , where a duty is imposed due to the relationship between the parties; and economic loss from negligent misstatement . The currently dominant view of pure economic...

Hedley Byrne & Co Ltd v Heller & Partners Ltd

Hedley Byrne & Co Ltd v Heller & Partners Ltd (1964)   Reference library

The New Oxford Companion to Law

Reference type:
Subject Reference
Current Version:
2009
Subject:
Law
Length:
512 words

...of the presence of a disclaimer of liability, which indicated that the credit reference was for the use of the recipient bank only and that it was provided ‘without responsibility’. But the breakthrough was the Court's acceptance that tortious liability could arise for a negligent misstatement which caused financial loss where a special relationship existed between the statement‐maker and the recipient who relied upon it. This has proven to be of especial importance in three‐party cases, like Hedley Byrne , where the statement‐maker and recipient are not in...

duty of care

duty of care   Quick reference

A Dictionary of Law (9 ed. )

Reference type:
Subject Reference
Current Version:
2018
Subject:
Law
Length:
290 words

...to all other road users ( Nettleship v Weston [ 1971 ] 2 QB 691). However, there is no general duty to prevent other persons causing damage or to rescue persons or property in danger. Liability for careless words is more limited than liability for careless acts ( see negligent misstatement ) and there is no general duty not to cause economic loss or psychiatric injury . The existence and scope of the duty of care will depend upon all the circumstances of the case and the relationship between the parties. The courts have developed a three tier test to...

physical damage

physical damage   Reference library

The New Oxford Companion to Law

Reference type:
Subject Reference
Current Version:
2009
Subject:
Law
Length:
859 words

...be no award of damages at common law against a negligent doctor in a ‘ wrongful life ’ claim for the birth of a child with a naturally‐occurring genetic disorder because the child could never have been born free from the disorder. In such circumstances, the courts consider that there is no measurable damage to the claimant ( McKay v Essex AHA ( 1982 ). legislation in England and Wales mandates a similar result (Congenital Disabilities (Civil Liability) Act 1976 ). Following the same logic, the negligent construction of a building or other structure with...

Corporations

Corporations   Reference library

The Oxford Companion to American Law

Reference type:
Subject Reference
Current Version:
2004
Subject:
Law
Length:
4,228 words

...Securities and Exchange Act of 1934 . The 1933 Act is concerned with new issues of stock. It requires that certain written materials must accompany or precede any interstate offering of securities , and imposes federal criminal penalties as well as civil liability for misstatements or omissions in the offering materials. The 1934 Act, which set up the SEC, the principal agency charged with the enforcement of federal securities laws, regulates interstate trading in existing securities, particularly trading by corporate “insiders” (Officers, Directors...

Proximity

Proximity   Reference library

The Oxford Companion to the High Court of Australia

Reference type:
Subject Reference
Current Version:
2007
Subject:
Law
Length:
746 words

...). In Sutherland Shire Council v Heyman ( 1985 ), he used it to set limits to the liability of local authorities for negligent performance of statutory functions; and in Stevens v Brodribb Sawmilling ( 1986 ), to explain the scope of the employer's duty of care to independent contractors. Other Justices were soon attracted to the concept. A majority adopted it as the basis for reformulation of the law governing negligent misstatement ( San Sebastian v Minister ( 1986 ), standard of care ( Cook v Cook ( 1986 ), and the defence of illegality ( Gala v...

Reasonableness

Reasonableness   Reference library

The Oxford Companion to the High Court of Australia

Reference type:
Subject Reference
Current Version:
2007
Subject:
Law
Length:
1,820 words

...reasonable for the other party to act or forbear in reliance on the representation or assumption. Reasonableness may also be relevant to whether the remedy is proportionate to the detriment. The development of these principles can be seen to complement the remedies for negligent misstatement. Reasonable proportionality has emerged in recent years as a touchstone of the constitutional validity of Commonwealth legislation and of delegated legislation generally. Traditionally, the constitutional validity of Commonwealth legislation was determined as a question...

Deane, William Patrick

Deane, William Patrick (born 4 January 1931)   Reference library

The Oxford Companion to the High Court of Australia

Reference type:
Subject Reference
Current Version:
2007
Subject:
Law
Length:
2,819 words
Illustration(s):
1

...from negligent misstatement gave rise to the possibility of their being concurrently liable in contract and tort. This led to conflicting decisions. Would the principles of assessment of damages in contract and tort merge, so that the cause of action chosen did not dictate the result? Or would contract and tort principles remain separate, allowing the plaintiff to take the benefit of whichever remedy he or she found most advantageous? In Hawkins v Clayton , Deane took a third path. He held that if a person was liable in tort for negligent misstatement, there...

Barwick Court

Barwick Court (27 April 1964–11 February 1981)   Reference library

The Oxford Companion to the High Court of Australia

Reference type:
Subject Reference
Current Version:
2007
Subject:
Law
Length:
1,576 words

...important judgments, mainly relating to criminal law , elucidating substantive principles, providing guidance to trial judges and the profession and enhancing the fairness of the trial and trial procedures. MLC v Evatt ( 1968 ) was a notable decision on liability for negligent misstatement, though it was overruled by the Privy Council. In a series of strongly expressed judgments, in which Barwick played the leading part, the Court upheld the right of the taxpayer to arrange affairs so as to minimise liability to tax, drawing a distinction between tax...

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