Torts Economic - MBE
The flashcards below were created by user
What are the economic torts?
(1) intentional misrepresentation
(2) negligent misrepresentation
(3) interference with K relations
(4) interference with prospective economic advantage
(5) injurious falsehood
What are the elements of intentional misrepresentation?
(1) intentional material misrepresentation
(2) of past or present fact
(3) made with scienter
(4) on which P justifiably relies
Intentional misrepresentation generally involves what?
an affirmative assertion of fact or an act of concealment
Failure to disclose isn't a basis for intentional misrepresentation unless what?
(1) fiduciary relationship
(2) ambiguous or misleading statement whic creates reliance
(3) D makes statement believing it to be true and discovers it wasn't
(4) D learns that P was relying on D's statement even though D didn't intend reliance
(5) P reasonably expects disclosure
Must the D intend for the P to rely to be liable for intentional misrepresentation?
In intentional misrepresentation, scienter is present when what?
D knew the statement was false or recklessly disregards the truth of falsity of it
What is the general rule for negligent misrepresentation regarding economic loss?
D as no duty to avoid the negligent infliction of pure economic loss
When can a P recover for economic loss resulting from negligent misrepresentation?
when it flows from a personal injury or property damage
What is the rule for special relationships and negligent misrepresentation?
D has a duty to avoid negligent infliction of pure economic loss when a special relationship exists b/t the parties making these recoverable
When can a party who isn't in privity of K recover for negligent misrepresentation?
when the D knows that the P is acting for the benefit of a 3P and 3P relies & suffers economic loss
In what context can a non-client recover for economic loss from negligent misrepresentation in the L/C relationship?
What are the elements for interference with K relations?
(1) D knows there was a K b/t the P and 3P
(2) D acts with purpose of having K breached or making K harder to perform
What does interference with prospective economic advantage protect?
the probable expectancy interests of future K relations of a party
P can prevail on claim of interference with prospective economic advantage only by showing that the D did what?
(1) knew of prospective economic advantage; and
(2) acted to interfere with it for improper motives
What are the elements for injurious falsehood?
(1) false statement
(2) actual malice
(4) causing specific economic injury to P
Torts Economic - MBE
ecomonic torts for MBE