Hedley Byrne & Co Ltd V Heller & Partners Ltd
Hedley Byrne & Co Ltd v Heller & Partners Ltd AC 465 is an English tort law case on pure economic loss, resulting from a negligent misstatement. Prior to the decision, the notion that a party may owe another a duty of care for statements made in reliance had been rejected, with the only remedy for such losses being in contract law. The House of Lords overruled the previous position, in recognising liability for pure economic loss not arising from a contractual relationship, introducing the idea of "assumption of responsibility".
Read more about Hedley Byrne & Co Ltd V Heller & Partners Ltd: Facts, Judgment, Subsequent Developments
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