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In Hedley Byrne & Co Ltd v Heller & Partners Ltd (1964)
, disclaimer by merchant bank was adequate to exclude
duty of care, inspite, of having special relationship with the claimant. If any such scenario of bank and claimant comes in exam , where bank has given disclaimer while giving statement but bank knows that claimant will rely on the statement given by bank and claimant also actually relied then in such a case if statement proves to be misleading then would bank be liable or not? I hope you understand my confusionThe bank in Hedley Byrne specifically excluded any liability for their opinion
If they hadn’t excluded liability, they would have been liable
But auditors are not in that fortunate position and they are not able to exclude liability for negligent audit opinions
In any work other than that that arrives at an audit opinion, I believe that it is available for the accountancy firm to limit or exclude liability
OK?
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