In Murphy Lord Oliver explained that economic loss would not be recoverable in negligence where the loss was too remote or where it would be impossible to contain liability in other cases within acceptable bounds (the “floodgates” argument) but10: Negligent Misstatement. Negligent misstatement A claim for a negligent misrepresentation that is based in tort under the common law is usually referred to as a ‘negligent misstatement’ - Hedley Byrne & Co Ltd v Heller & Partners Ltd AC 465. 30; this is apparent from obiter dicta of Ajaib Singh J., but the case was decided in the tort of deceit. Our company accepts no liability for the content of this email, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. The majority of professionals are aware that the provision of negligent advice or a negligent misstatement may expose them to liability. Negligent misstatement refers to a representation of fact that been carelessly made, which is relied on the plaintiff to their advantages (O’Riordan, 2007, p.1). Introduction. United Kingdom and Malaysia. 2 The principles of negligent misstatement formulated in Hedley Byrne v. Heller [1964] A.C. 465 have however been accepted in Malaysia, see Bank Bumiputra Malaysia v. Yeoh Ho Huat [1979] 1 M.L.J. The elements of negligent misstatement. The key policies guiding energy-related activities in Malaysia are: from negligence, negligent misstatement, or otherwise) for any statements, opinions, information or matter (expressed or implied) arising out of, ... Malaysia’s energy policies evolved over the years since the 1973 world oil crisis. Negligent misrepresentation also applies when one party makes a careless statement of facts even when there is no sufficient basis for believing in the truth of those facts. Is the worst over for the economy yet? NEGLIGENT MISSTATEMENT. Part I: Pure Economic Loss and Negligent Misstatements Claims of negligent misstatement require a consideration of whether there has been an assumption of risk on the part of the maker of a statement, or more broadly whether the circumstances are such as to give rise to a duty of care. Footnotes. It argued that the reference provided to Burlington was a negligent misstatement on which it had relied. Negligent misstatement. Negligent misrepresentation takes place when one party does not exercise reasonable care to make sure that the representation of facts is true. However, such professionals may not be aware of the extent of their potential liability. Claiming negligent misrepresentation or negligent misstatement—practical considerations Required element of a misrepresentation claim—statements Amongst the key elements of an actionable misrepresentation is the requirement for a statement to have been made by/on behalf of the representor to the representee. Liability for negligent misstatement can be disclaimed if the statement is accompanied by a form of words which makes the intention to disclaim clear. Part VII explains the current test in Malaysia in determining for negligent misstatement as a comparison with United Kingdom (hereinafter known as UK). of negligent misstatement set out in Hedley Byrne v Heller & Partners9. And, lastly Part IX is a conclusion. In 1964, the tort of negligent misstatement has been established and it has gained more recognition in this decades. Part VIII explores any possible reforms in UK and Malaysia. Playboy sought recovery of Mr Barakat's debts from the Bank. It covers opinions and reality statements made by negligence. 1 Hedley Byrne & Co. Ltd v Heller & Partners Ltd [1964] AC 465. 1. Negligent misstatement relates to a representation of fact, which is carelessly made, and is relied on by another … See Caparo Industries plc v Dickman 2 AC 605 for the test for duty of care. 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