By showing that Irish Life’s / First National’s wilful silence on the critical matters of Internal Rate of Return, Risk, and Reward for Risk taken, totally distorts the positive representations they have made in their Mortgage Quotation Comparison, and by also inquiring into whether Irish Life / First National could have honest belief in the truth of those positive representations, we have put forward irrefutable argument that they are guilty of Fraudulent Misrepresentation.

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But clearly Irish Life / First National are most certainly guilty of Negligent Misrepresentation.


They have given information and advice, and they knew, or ought to have known (given their financial expertise), that my wife and I were placing full reliance on that information and advice. We have proven the information to be incorrect and the advice to be unreliable.


(See Section 2.3.3: Negligent Misrepresentation. See also Section 2.8.1: The Right to Revoke the Contract, and Section 2.8.3: The Measure of Damages as a result of a successful Action based on the Common Law liability under Negligent Misrepresentation.)

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Of greatest importance, however, is the fact that they are guilty of Statutory Misrepresentation.


Notwithstanding the prevalence of Fraud, it must be stressed that an action based on Statutory Misrepresentation yields the same damages as an action based on Fraudulent Misrepresentation under Common Law, with the added advantage that the burden of proof is reversed.


Irish Life and First National must show, objectively,  (i.e. THEY  MUST  PROVE ), that they had reasonable grounds for believing that the financial facts represented were true, and that they did believe up to the time that the contract was made that the facts represented were true.


THIS, THEY CANNOT DO !


(See Section 2.3.5: Statutory Misrepresentation. See also Section 2.8.1: The Right to Revoke the Contract, and Section 2.8.4: The Measure of Damages as a result of a Successful Action based on the Statute Law liability under Misrepresentation. See also Section 2.8.5: Crime and Punishment.)