LAW 122 Study Guide - Final Guide: Financial Statement, Stock Market

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Nick Iannazzo

Document Summary

Example of well-established duties of care: doctor-patient, lawyer - client, and manufacturer of goods - user of goods) Special case for duty of care for statements. Instead of being physical, it is a written statement. This statement can be seen around the world and if (financial statements are not seen as being used for a investment decision, instead it is for management) The legal test for the duty of care for a statement that was made. Did someone ask for it, or pay for. If this occurs, then it is more likely that company is liable. Statement of fact vs statement of opinion. Defendant knew that the plaintiff, either as an individual or as a member of a group, might rely on the statement; and. The plaintiff relied on the statement for its intended purpose. For example, yes the plaintiff used statement and release on it.