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MCS 3040 (111)
Lecture 6

MCS 3040 Lecture 6: MSC3040_ W6

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Department
Marketing and Consumer Studies
Course
MCS 3040
Professor
Joe Radocchia
Semester
Fall

Description
October 24 th Week 6: Tort Law Misrepresentation – Fraudulent vs. Negligent  Misrepresentation – not true; false  2 types of misrepresentation o Fraudulent – intentional  If can be prove – very difficult – can be entitled to damages, not only for the impact, but as well as punitive damages  Ex. Selling your house – termites issue  Withhold the information, and tell buyer no  You have to prove it more than on the balance of probabilities  Quasi-Criminal – similar to criminal behaviour  Need very convincing and compelling evidence that this person has committed fraud  If cannot be proven – may face cost on a dollar to dollar bases  Better have very good evidence to prove it then o Negligent – unintentional  Done so carelessly  Didn’t mean to mislead  Entitled to Economic damages – not entitled to pain and suffering damages  Typical fall under general pecuniary damages  Most commonly occurs in the relationship with a professional with client/patient  What makes someone a professional?  Professional is someone – must be legislated, government creates the profession  Legislation creates legislation itself  Self governing  Create criteria that it offered – educational, licencing, etc.  Example. Car accident yesterday – how much time to sue  Lawyer – don’t worry about it, get yourself better first o 3 years later – come back to office and state that you still want to sue  ON – must start tort claim within the 2 years since it occurred o Sue lawyer for lack/wrong info – didn’t answer the question on how much time you have to sue  As a professional that ‘clock doesn’t stop’ and obligation still arises even though the relationship is not client and professional based  Said ‘lots of time’ – form of Negligent Misrepresentation, as you actually only had 2 years  Obligation can extend ‘outside the office’  Example. Stock Broker – Saturday night at a party  Client ask – ‘What’s the stock of the week?’ o Someone over heard and went to go buy the stock on Monday  Friday stock failed  Are you held liable for duty of care to the person who overheard? o No – because the information wasn’t volunteered to them Negligent Misrepresentation rd  Can you owe a duty of care to a 3 Party?  Hedley Byrne vs. Heller & Partners Case o HB – advertising Company o Easy Power – EP o HB has relationship with EP  Inquires for extending credit o HB goes to HB Bank  Ask about the bank to look into whether they should give EP the extended credit [30,000$] o HB Bank goes to HP [which is EP banks]  Can EP repay it?  HP, writes letter back to HB Bank – only for the use of HB Bank [disclaimer]  Letter – not accosted, said EP is in ‘good financial shape and good for its obligations’, meaning that it could be good on paying back its band o HB contacts HB Bank again  Said EP was good o However, EP wasn’t good – fails o HB sues HP  HP Didn’t know who HB was  Said the HP owed them a duty of care – easy foreseeable that someone would use this information  Duty of care that the information would be reliable  Even though didn’t have a direct relationship o Court said that there is no - because of the disclaimer
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