Third-party plaintiffs bringing action under common law need not prove
A)They were damaged or suffered an economic loss.
B)Reliance on the financial statements.
C)The financial statements were direct cause of loss.
D)Breach of contract.

Question

Quizplus · Accepted Answer

Third-party plaintiffs bringing action under common law have to prove that there was a breach of contract, but they do not necessarily have to prove that they suffered economic loss or relied on the financial statements, or that the financial statements were the direct cause of loss.

Third-Party Plaintiffs Bringing Action Under Common Law Need Not Prove