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In an age of mass-communication, negligent misstatements can be quickly and widely disseminated. If relied on, they can cause economic loss to many persons. If all such persons were owed a duty of care, the courts would be faced with more claims for compensation than they could possibly deal with.
Australian courts now recognise liability in tort for negligent misstatements that cause purely economic loss, but they keep this liability within reasonable limits by laying down special factors that are relevant in deciding whether or not a duty of care exists in such cases.
- Reasonable reliance
- Vulverability
- Additional requirements when a misstatement is communicated to a third party
These common law requirements are explained in the following pages.
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