McINERNY v. LLOYDS BANK LIMITED

[1974] 1 Lloyd's Rep. 246

COURT OF APPEAL

Before Lord Denning, M.R., Lord Justice Megaw and Lord Justice James

Contract - Purchase by third party of companies owned by plaintiff - Arrangement made for banker's commercial credit - Plaintiff entitled to draw bills of exchange against credit - Telex message sent by bank to plaintiff relating to renewal of period of credit - Failure by third party to honour bills of exchange - Whether bank liable on telex for breach of contract and/or negligence. Negligence - Alleged mis-statement in telex sent by bank to plaintiff concerning third party's own affairs only - Statement not addressed to plaintiff - Whether plaintiff able to hold bank liable.