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2011 December

Fundamentals of Business Law AAT Public Exam

PLEASE UNDER THE CASE NAME WHEN ANSWERING THE QUESTIONS

Section A Multiple Choice Questions 20Q @20%

Section B Compulsory Questions 2Q @30%

B1 Contract Law

B2 Law of Tort

Section C Optional Questions 2Q out of 3Q @50%

C1 Hong Kong Legal System + Bill of Exchange

C2 Contract Law + Sale of Goods Ordinance (SOGO)

C3 Company Law

Law of Tort

Negligent Misstatements

Question 4

In relation to the tort of negligence, explain the duty of care for negligent misstatements.

Answer

Liability for negligent misstatements commonly arises in cases of professional advice. To succeed in such an action, the plaintiff must also establish a duty of care, breach of duty and resulting damage. A claim for negligent misstatement would invariably involve a claim for pure economic loss and the law of negligence previously recognised a duty of care only for loss which flows from physical damage to a person or his property. However, in the landmark case of Hedley Byrne v Heller (1964) the House of Lords allowed a claim for pure economic loss caused by a negligent statement without any need for...