Site icon swarb.co.uk

Uzinterimpex JSC v Standard Bank Plc: ComC 15 May 2007

The court considered the liability of a bank under its guarantee of a transaction. The court set out the elements of the tort of deceit: (a) The defendant must have made a representation which can be clearly identified.
(b) It must be a representation of fact.
(c) The representation must be false.
(d) It must have been made dishonestly in the sense that the representor has no real belief in the truth of what he states: this involves conscious knowledge of the falsity of the statement.
(e) The statement must have been intended to be relied upon.
(f) It must have in fact been relied upon: see Derry v Peek (1889) 14 App Cas 337, Angus v Clifford [1891] 2 Ch 449, Armstrong v Strain [1951] 1 TLR 856, The Kriti Palm [2007] 1 Lloyd’s Rep 555.
In addition, all the elements must be established by reference to the heightened burden of proof as discussed in Hornal v Neuberger Products Ltd [1954] 1 QB 247, Re H (Minors) [1996] AC 563.’

David Steel J
[2007] EWHC 1151 (Comm), [2007] 2 Lloyd’s Rep 187
Bailii
England and Wales
Cited by:
CitedGrosvenor Casinos Ltd v National Bank of Abu Dhabi ComC 17-Mar-2008
Banker’s reference no guarantee
An Arab businessman lost pounds 18m at the claimant casino, and wrote scrip cheques against his account with the defendant. The claimant obtained judgment, but being unable to enforce that judgment pursued his bank. The club had used a system where . .
Appeal fromUzinterimpex JSC v Standard Bank Plc CA 15-Jul-2008
The parties disputed the result of a contract for the purchase of cotton with the contract underwritten by a bank.
Held: After the breach of the contract, the claimant had failed properly to mitigate his losses. That failure in turn itself . .

Lists of cited by and citing cases may be incomplete.

Banking, Torts – Other

Leading Case

Updated: 31 October 2021; Ref: scu.252331

Exit mobile version