False Statement Regarding Financial Status and Solvency

In Gainesville Nat'l Bank v. Bamberger, 77 Tex. 48, 13 S.W. 959 (Tex. 1890), a firm made statements to an agency regarding its financial status and solvency, and subscribers to that agency relied upon those statements in extending credit to the firm. We held that a fraud cause of action exists "if the false representations be made with a view of reaching the third person to whom it is repeated, and for the purpose of influencing him." 13 S.W. at 960-61. Where a party makes a false representation to another with the intent or knowledge that it should be exhibited or repeated to a third party for the purpose of deceiving him, the third party, if so deceived to his injury, can maintain an action in tort against the party making the false statement for the damages resulting from the fraud. American Indem. Co. v. Ernst & Ernst, 106 S.W.2d 763, 765 (Tex. Civ. App.--Waco 1937, writ ref'd).