Question
After winning a lottery, Janice consulted Len, a stockbroker and accountant, about how to invest the huge sum she had won. In their discussion she
After winning a lottery, Janice consulted Len, a stockbroker and accountant, about how to invest the huge sum she had won. In their discussion she mentioned that her brother, Steve, would probably ask her for the information and advice she received from Len. "Even though he won as much as I did", she said, "he's too cheap to pay for the help we both know we need, so I better make some notes." Among other things, Len advised Janice to buy shares in a company just before it bought heavily into retail stores in the U.S.A. and became insolvent. Janice didn't act on that piece of advice, but Steve did.
a.Discuss whether Steve can start a law suit against Len and if so, identify and explain the legal principles that Steve should use in the law suit.
b.If Steve can start a law suit, is he likely to succeed or fail?Explain why.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started