|
Forum
Started Nov 29 2012, 13:20
|
Nov 29 2012, 13:20
If the defendant’s negligent act or omission causes economic loss to another without causing any physical or psychiatric harm, such loss is termed as pure economic loss. Pure Economic loss was initially recognized in Hedley Byrne and Co Ltd v Heller and partners Ltd and it was decided in that case that individuals have a duty not to cause any economic loss to others through negligent misstatements. In several subsequent cases also the duty not to cause financial loss to others was recognized. However, for such a duty to exist, a relationship of reliance between the parties concerned is a must.
Peter 12253649
|
|
|
We Speak Your Language
|