Negligent Misstatement Flashcards
1
Q
Negligent Misstatement
A
Fact or opinion inducing reliance by another and resulting on him/her suffering loss.
2
Q
Test Requirement 1
A
Was there a duty of care based on a special relationship?
3
Q
Test Requirement 2
A
Was the advice or statement relied upon, and was the reliance reasonable?
4
Q
Test Requirement 3
A
Was the statement intended for the purpose for which it was relied upon?
5
Q
Test Requirement 4
A
Did the reliance on the statement cause harm?
