Business law coursework Essay Example | Topics and Well Written Essays - 1500 words

Business law coursework - Essay ExampleLord Kenyon held thither are m whatsoever situations in life, and particularly in the commercial world, where a man cannot by any diligence inform whom he deals in which movements he must apply to those whose sources of intelligence enable them to mete out that information. If no injury is occasioned by that lie, it is not bodily processable but if it be attended with a damage, it and then becomes the subject of an action. It is admitted that Defendants conduct was highly immoral, and detrimental to society. And I am of opinion that the action is maintainable on the grounds of deceit in Defendant, and injury and loss to Plaintiff.1The next locomote in proving the existence of tort of deceit is the fact that the claimant relied on the provided information and this caused loss to him. Even though it seems that Peters situation fits under these regulations, there is one big On the other yield in an action for deceit, it is not enough to estab lish misrepresentation alone Fraud is established where it is proven that a false education is made (a) knowingly or (b) without belief in its truth or (c) recklessly, do byless as to whether it be true or false. 2 This is the House of Lords ruling in the case of Derry v Peek (1888).Breach of duty occurs in the situation when the defendant owed a duty of care and his actions were lower than the reasonable standard. Smith and Keenan (2010, p.464) state that the test of a reasonable man should be utilize to individuals who have held themselves out as possessing a particular skill3 as to average specializer in that domain. For example, as in Peters case, Bumble&Co recommending themselves as a fraternity which conducts financial analysis were expected to act as an average accountant.By providing a financial statement of poor quality, Bumble&Co actually provided misinformation to the shareholders. The company ignored its duty of care, established by impersonal standards, and prov ided false information. It accepted to