Tort Law Coursework Example | Topics and Well Written Essays - 2500 words

Tort Law - Coursework Example Before this case, if a professional person made a statement to another, and the other person relied upon this statement, the only remedy for this would be a remedy in contract, not in tort.2 Hedley Byrne changed this basic rule, and now parties may recover for purely economic loss, even if there is not a contractual relationship. The facts in Hedley are similar to the case at bar. In Hedley, Hedley Byrne was a firm of advertising agents with a customer, Easipower Ltd., who put in a large order. Hedley carried out this large order, but not before it got a report from the Heller & Partners Ltd. Bank regarding Easipower’s creditworthiness. The bank replied that Easipower was creditworthy, Hedley relied upon this statement, gave Easipower its orders, Easipower went out of business, and Hedley Byrne lost  £17,000 on the deal. Hedley Byrne sued Heller & Partners for their statement. Heller replied that there was not a duty of care, and that liability was excluded. What the Hedley court found was that there was a special relationship between the parties, and the court found that the special relationship was formed because the defendant reasonably should have known that the plaintiff would rely upon the statements that they gave to them. This foreseeable reliance creates a special relationship. Since the decision in Hedley, the UK courts have expanded upon the definition of special relationship and what would give rise to an action in negligence, with regards to people who are professionals. For instance, 3expanded upon the Hedley principle, and stated that if something is common practice, then it is not unreasonable to rely upon the word of that professional, as opposed to being expected to get a second opinion. Moreover, the Smith case expanded the Hedley principle to third parties. However, the Hedley principle is not absolute. For instance, in Caparo Industries plc. V. Dickman4 , a company who was pursuing a takeover relied upon an auditor’s statements

Emerging market-The challenges and opportunities investing in China Essay

Emerging market-The challenges and opportunities investing in China - Essay Example In the thought of Beridze, emerging markets refer to the nations that have actively been involved in business activities that have seen their fast growth as well as a huge development in the industrialization process. Among these countries that are termed to be emerging range from Brazil to China. As seen in the research conducted by Palepu & Khanna, China has retained her position as the third in the list of the emerging markets. China has also been termed as one of the growing economies with largest imports and exports in the globe. Agtmael indicates that the economy has had a growth rate of about 10% over the years. With the country being termed as the world’s second-largest economy after the U.S.In the thought of Lorenzoni & Broner, emerging economies have been integral in the world economy. This may arguably be because the supposed emerging economies have already emerged and are taking the center stage of the global economy. A good example is China that is export-driven w ith strong capital inflows and investments from well-capitalized banking institutions. Additionally, the growth of the world’s economy is expected to emanate from the emerging markets, and 70% of the growth is anticipated according to the economists.  Despite the varying interpretations of the term, the fact about the entire aspect is that emerging markets have been instrumental in recording an increase in the capital share in the world economy and that their GDP is on the increase.