Derry v Peek [1889] UKHL 1 is a case on English contract law, fraudulent misstatement, and the tort of deceit.

Led by Sir Henry Peek, shareholders who had purchased their stakes in the company on the faith of the statement sued the directors in misrepresentation.

The House of Lords held that the shareholders' action failed because it was not proved that the director lacked honest belief in what they had said.

There are many cases, "where the fact that an alleged belief was destitute of all reasonable foundation would suffice of itself to convince the court that it was not really entertained, and that the representation was a fraudulent one.

That is, for there to be deceit or fraud (which is the same) it must be shown that a defendant (i) knows a statement is untrue, or (ii) has no belief in its truth, or (iii) is reckless as to whether it is true or false.