economic loss

Here's an example of pure economic loss Look up the case Hedley Byrne v Heller and Partners and here's a made up situation to illustrate pure economic loss ... Where the negligence of one person causes another to miss a business opportunity, that would be pure economic loss Consequential loss is more in the nature of Victoria Laundry v Newman Industries where, as a consequence of Newman's delays, the Laundry lost 3 months' profits OK?

1. sir I understood the case of Hedley Byrne v Heller and partners but still confused. In this case, there was a disclaimer so claimant could not claim the loss. But , if there was not disclaimer could Hedley Byrne claim the loss?

Yes, that's exactly right

Bank owe duty of care to company. isn't it ? Bank has responsibility to give correct information about creditors. so hasn't it been breach of duty of care irrespective of disclaimer? I apologize for sticking into same topic .

Yes, it's a breach of duty (the duty not to be negligent) But the bank had a disclaimer exonerating it from liability in the event they were wrong It is similar to what was seen on some documents in the past (I've not seen it recently) - the abbreviation "E & OE" which stands for "Errors and Omissions Excepted" It's an exclusion clause and WAS considered reasonable in the days when this case was current It's unlikely that a bank would get away with it in 2016

thank you :)

You're welcome