Marketing Guru, a local advertising agency, is to place television and newspaper advertisements for a company called Wollongong Fashion Fabrics Ltd (Wollongong Fashion). As Marketing Guru will personally guarantee the payment of the advertising accounts, it seeks credit references from Trust Bank, the banker/financier of Wollongong Fashion. A written report provided by Trust Bank states that Wollongong Fashion is creditworthy, but adds a note in the heading: 'without responsibility on the part of this bank or its officials'. Marketing Guru relies on the written report supplied by the banker and places the advertisements in the media, when Wollongong Fashion is not in fact creditworthy. Can Marketing Guru recover the amount paid for the advertisements?

Task: Discuss the elements of the tort of negligence in relation to the facts provided above, apply them to the above scenario, and advise Marketing Guru whether it has an enforceable claim against Trust Bank for the statement it has provided. Your discussion and advice must be substantiated by referring to the common law and statutory law where relevant.