Jersey Judgment

Steelux v Edmonstone [2005] JLR 152 (03 May 2005)

Commercial Law Bills of Exchange Promissory Notes Fraudulent Misrepresentation Void Ab Initio

Citation: [2005] JLR 152
Status: Judgment
Jurisdiction: Jersey
Posture: Civil / Judgment

More details

Posture: Civil / Judgment

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Professional case brief

Research organized from the available case record

Source document

Holding and result

A promissory note is void ab initio if the signatory's consent was induced by reliance on a fraudulent misrepresentation, regardless of whether the maker knew the statement was false.

Court disposition

promissory note may be void ab initio if induced by fraudulent misrepresentation

Material facts

Parties

Steelux

Applicant

Edmonstone

Respondent

Procedural history

Posture

Civil / Judgment

Questions and positions

Legal issues

01
Whether a promissory note may be void ab initio due to fraudulent misrepresentation
02
Whether it is necessary for the maker to know the statement was false

Party arguments

Applicant: The promissory note should be void ab initio because consent was induced by reliance on a fraudulent misrepresentation.
Respondent: It is unnecessary for the maker to have known the statement was false if it was actually false and relied upon.

Court’s reasoning

Legal principles

01
[2005] JLR 152

A promissory note may be void ab initio if the signatory proves vice du consentement, i.e. consent was only given because it was induced by reliance on a fraudulent misrepresentation.

Ratio, limits and disposition

Ratio decidendi

A promissory note is void ab initio if the signatory's consent was induced by reliance on a fraudulent misrepresentation, regardless of whether the maker knew the statement was false.

Court disposition

promissory note may be void ab initio if induced by fraudulent misrepresentation

Source and reliance status

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Judgment text

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Court record

Judgment

[2005] JLR 152

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