Crestsign Ltd v National Westminster Bank plc and another

Negligence – Duty to take care. The claimant issued negligence proceedings against the defendant banks in respect of economic loss allegedly suffered as a result of their advice or statements. The Chancery Division, in dismissing the claim, held that the banks had owed the claimant no duty to use reasonable skill and care in the giving of advice, as they had successfully disclaimed responsibility for any advice. However, they had come under a duty to explain fully and accurately the nature and effect of the products in respect of which a explanation had been volunteered, which they had not breached.

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