While the defendant’s misrepresentation may have induced the claimant to enter into a contract, the claimant will only have a claim if the misrepresentation was addressed to her.
A statement in a prospectus was intended to invite persons to take allotments of shares in the company. Once the shares to which the statement related had been issued, the statement was exhausted. A subsequent purchaser of those shares in the market had no right of action as regards the falseness of statements in the prospectus.
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