Torts-Economic

Card Set Information

Author:
brozovic
ID:
89010
Filename:
Torts-Economic
Updated:
2011-06-20 16:43:44
Tags:
torts economic
Folders:

Description:
Torts-Economic Torts
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user brozovic on FreezingBlue Flashcards. What would you like to do?


  1. Fraud
    Almost always comes up in contractual transactions, often where trickery is involved in inducing the buyer, etc.

    • 1. The D must make a misrepresentation of fact.
    • Affirmative Misrepresentation. Silence does not satisfy the tort of fraud (though it may be fraudulent for other civil law purposes). This is the origin of caveat emptor.

    • 2. Misrepresentation must be made deliberately or recklessly.
    • --D must know he’s lying or have made no effort to ascertain the truth.
    • --A mere error by D will not trigger fraud liability.

    • 3. The misrepresentation must be intended to induce reliance [material].
    • (puffing up car; not your actual expectation this will affect buyer)

    4. There must be reliance by P.

    • 5. Must be economic damage.
    • Must end up overpaying b/c of the fraud.

    • Compressed Fraud Elements
    • Someone tricked you deliberately, you fell for it, and you got screwed.
  2. Prima Facie Tort
    New York Only.

    • Intentional infliction of pecuniary harm without justification. Sort of a catch-all.
    • “Elements:” 1. Must be an intent to do harm; 2. Must be harm.

    • --Record company/radio station example.
    • --Predatory pricing—selling low to drive out competitors.
  3. Inducing a Breach of Contract
    1. Must be a contract in existence between P and third-party (T).

    • 2. D must have knowledge of the K.
    • 3. D must engage in persuasion designed to encourage T to breach the K.
    • Most bar questions, the inducement will be a better deal, better collateral, etc.; as opposed to coercion, etc.

    • 4. T must then breach the contract.
    • Privilege—special/advisory relationship b/t D and a contracting party (parents, professional advisors, clergy).

    • P’s Claims:
    • --Against T for the actual breach.
    • --Against D for inducing the breach.
  4. Theft of Trade Secrets
    1. P must possess a valid trade secret.

    • Valid trade secret=
    • 1. Information that provides a business advantage to the possessor (mfg process);
    • 2. Must be secret; and
    • 3. Owner must take reasonable steps to keep the information secret.

    2. D must take the trade secret by improper means.

    There are two alternative “improper means”:

    --“traitorous insider.” Improper b/c of breach of trust/implied confidentiality of relationship.

    --“industrial spy.” Improper if illegal or legal but violates ordinary standards of commercial morality.

What would you like to do?

Home > Flashcards > Print Preview