The Calcutta Law Journal February 1 1912

The early authorities on the law of warranty which furnished the foundation for the decision of Pasley v. Freeman (t) have also been the basis for the subsequent development of the law of warranty and in this susequent development the necessity of expressly warranting a statement to be true in order to make out an actionable case has been gradually done away with. [...] In the American case it was held that scieuter need not be alleged or proved the Court saving Use of a statement of the corporate business by a director negotiating a sale of his stock therein could not be regarded as other than a direct affirmation of its correctness and if it was delivered for the purpose of assuring the buyer of the truth of the facts therein stated and to induce him to pur [...] In one respect moreover the doctrine in regard to an agent’s warranty has been advanced by the late decision of the House of Lords beyond the analogy of warranty in the law of sales and beyond the previous authority of Collen v. Wright. [...] The defendant was a stocbroker and as such presented to the Bank of England in good faith at the request of a customer a power of attorney purporting to be signed by the owner of certain consols and thereby induced the Bank to transfer the consols to a third person. [...] 23n tation to another of the existence of a certain state of facts which he intends to be acted upon in a certain way and it be acted upon in that way in the belief of the existence of such a state of facts to the damage of him who so believes and acts the first is estopped from denying the existence of such a state of facts.” (1).