hey guys i've got this Legal assignment recently and when i looked @it..i have no idea how to start.....so i need ur help XD...
basically i've been given that a girl who receives a lump sum redundancy package of $$$$$,and since she has no idea how long will it takes for her to get another job, she wants to invest something that is very secure....So she meets up wif this guy (the guy is a friend of her friend) and the guy is a licensed investment adviser..the guy offers a free advise since he is a friend of the girl's friend ..so he asks the girl to invest in Unsecured notes issued by a company called XXXXX...and he also asks the girl to put in all her money...
then the girl states she is uncomfortable using all her money but the advisor shows her the Balance Sheet of the company which shows the compay is very strong and has a big asset... So the girl invests.(Full amount of the lump sum)
A month later, the company XXXX is placed into liquidation...then she lost all her money....It then appears that the B/Sheet is amde up by the company director who have since disappeared. It also appeares that auditors of the Company, XXX,did not request copies of valuations of the company property when they conducted audit...
so my questions are "whats the chance of the girl in bring a successful action in tort against the financial advisor...." and "her chances in bring a succesful action in tort against the auditor of that company.."
thx for those pple that r willing to help~~thx alot...
basically i've been given that a girl who receives a lump sum redundancy package of $$$$$,and since she has no idea how long will it takes for her to get another job, she wants to invest something that is very secure....So she meets up wif this guy (the guy is a friend of her friend) and the guy is a licensed investment adviser..the guy offers a free advise since he is a friend of the girl's friend ..so he asks the girl to invest in Unsecured notes issued by a company called XXXXX...and he also asks the girl to put in all her money...
then the girl states she is uncomfortable using all her money but the advisor shows her the Balance Sheet of the company which shows the compay is very strong and has a big asset... So the girl invests.(Full amount of the lump sum)
A month later, the company XXXX is placed into liquidation...then she lost all her money....It then appears that the B/Sheet is amde up by the company director who have since disappeared. It also appeares that auditors of the Company, XXX,did not request copies of valuations of the company property when they conducted audit...
so my questions are "whats the chance of the girl in bring a successful action in tort against the financial advisor...." and "her chances in bring a succesful action in tort against the auditor of that company.."
thx for those pple that r willing to help~~thx alot...
