Held that the seller's forecast of farm income is merely a statement of opinion and as such is not actionable. Both cases held that forecasts are statements of opinion and not of fact, and those making them are not liable for any error resulting from them. Only statements of fact and not statements of opinion give rise to a negligent misrepresentation claim. Also, honest belief rules out intentional fraud. Reasonable care is required in preparing a forecast.
Research needs in Forecasting.
International Journal of Forecasting . Daub, M. and A. Lefas Daub. Queen's University, Canada, 1989. If you know of additional cases in the area, please make us aware. Thanks go out to editor C. L. Jain for allowing us to reprint this article from the Journal of Business Forecasting, Vol.