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Negligent misstatement

Language: English Series: Estates Gazette Case Summaries ; (1995) EGCS 188(1) (9/12/95)Publication details: 1995Subject(s): Summary: "First Interstate Bank of California v Cohen Arnold & Co" CA 28 November 1995. The plaintiff bank relied on a letter mistakenly asserting the wealth of the guarantor - action for negligent misstatement. Breach of duty admitted. Bank awarded damages for breach. Defendants appeal allowed in part. Amount for damages reduced to £2m.

"First Interstate Bank of California v Cohen Arnold & Co" CA 28 November 1995. The plaintiff bank relied on a letter mistakenly asserting the wealth of the guarantor - action for negligent misstatement. Breach of duty admitted. Bank awarded damages for breach. Defendants appeal allowed in part. Amount for damages reduced to £2m.