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Economic Loss

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Spartan Steel v Martin and Co
Difference between consequential economic loss and pure economic loss.
Hedley Byrne v Heller
This case outlines the rules for reclaiming pure economic loss caused by a negligent misstatement. A disclaimer can remove liability.
Esso Petroleum v Mardon
The adviser may be a professional.
Lennon v MPC
The adviser must have expertise or skills but need not be a professional.
Chaudhry v Prabhakar
Advice may be given in a social setting.
Patchett v SPATA
A D is not liable when it is clear that he did not intend to assume responsibility for his statements.
Caparo v Dickman
The D must have known who would use his statements.
Caparo v Dickman
The D must have known for what purpose his advice would be used.
Smith v Eric S Bush
The C must demonstrate that it was reasonable in the circumstances for him to have relied on the statement.
Spring v Guardian Assurance
A defendant may be liable for a negligent misstatement that was relied on by a third party which caused the claimant economic loss.
Law Society v KPMG Peat Marwick
Liability will exist when the D should know that his statements will be passed onto a third party and for what purpose that third party will use them.