Question
XYZ Pte Ltd (XYZ) is a fintech start up and in order to expand the business, are required to purchase S$250,000 worth of computers and
XYZ Pte Ltd (XYZ) is a fintech start up and in order to expand the business, are required to purchase S$250,000 worth of computers and related accessories from ABC Pte Ltd (ABC) on credit. To ensure XYZ are financially stable to pay for the computers, ABC wanted to know of XYZs financial stability. XYZ asked ABC to contact their Bankers BRY Bank (BRY). ABC wrote to BRY requesting for XYZs solvency position as ABC intend to provide credit to XYZ. BRY mistook ABC for another of their clients and stated that ABC are financially solvent. BRY supplied the information with the reference: BRY Bank will not accept any liability for any inaccuracy contained in this reference, or for any loss incurred as a consequence. In reality, XYZ are in arrears of a loan they took from BRY and are in difficulty settling the loan together with interest. ABC supplied the goods. Some months later XYZ due to the global economic conditions, suffered losses and are unable to pay ABC and are in the verge of being wound up. Can ABC recover the losses suffered from BRY Bank? Cite a case and example using APA format
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