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Anthony Chendo
Anthony Chendo,
Category: Law
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Experience:  Solicitor at BLM
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What are the principles governing whether a party may

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what are the principles governing whether a party may recover economic loss arising as a result of negligent misstatement?

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Customer: replied 4 days ago.
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Negligent misstatement relates to a representation of fact, which is carelessly made, and is relied on by another party to their disadvantage. It is possible to claim for economic loss arising out of a negligent misstatement where no contractual or fiduciary relationship exists between the parties, provided however, that a special relationship or a sufficient proximity exists between the parties. Generally, a special relationship will exist where the adviser knows that the other party is justifiably relying on him for his skill, expertise or knowledge.

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