In Horrocks v. Lowe, [1972] 1 W.L.R. 1625, [1972] 3 All E.R. 1098, Lord Denning at p. 1102 approved the following statement in Gatley, 6th ed., pp. 359-60, para. 774: “If the defendant honestly believed his statement to be true, he is not to be held malicious merely because such belief was not based on any reasonable grounds; or because he was hasty, credulous, or foolish in jumping to a conclusion, irrational, indiscreet, pig-headed or obstinate in his belief.”
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