Torts Economic - MBE
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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
- (3) published
- (4) causing specific economic injury to P
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