Analyze the fact scenarios, involving tort law and write an answer using the "IRAC" method by identifying and discussing

Carlos, a close friend and business associate of Ang's, brings his friend Dale to the Dream Asian-Fusion for lunch. While Carlos and Dale are eating, Ang states to Carlos "Babak, the man who sold me this place is a liar who deceived me in the transaction. Be cautious if you ever deal with him." Dale overhears this statement. Dale is an investor who finances new ventures.Earlier that month Babak had asked Dale for investment money to develop, open and operate a new business venture "Babak's Grand Taj Mahal Luxury Hotel and Resort". At that initial meeting, Babak presented his business plan to Dale and emphasized his (Babak's) excellent reputation for honesty and integrity. Dale started to Babak "Based on your business plan and purported reputation for honesty and integrity, I can fund your new venture by next month after my office performs a standard background check on you." Babak had heard rumors that a global pandemic was coming that would upend the luxury hotel and resort industry. However, confident that full funding would be provided by Dale, Babak invested all the money from the transaction with Ang, his entire savings, and leveraged his home as a $2,000,000 non-refundable down payment on a huge undeveloped lot in the City of Commerce for his luxury hotel and resort.After overhearing Ang's statement about Babak however, Dale immediately emailed Babak stating "Babak, I overheard someone state you are a 'liar who deceived them in a transaction'. All deals are off. I will not give you any investment money at all. Do not contact me again." Contemporaneously, a global pandemic broke out that upended the hotel and resort industry. Babak was not able to finance the new venture and lost everything, including his home and all his money.

Analyze using the "IRAC" method.