Question
Irina, a financial adviser, and Basil, a sales assistant, travel into the city each morning on the same train. They have many things in common
Irina, a financial adviser, and Basil, a sales assistant, travel into the city each morning on the same train. They have many things in common and spend the journey discussing their various hobbies, family matters and the like. One morning, Basil asks Irina whether she thinks Epcon Limited is a good investment and Irina assures her that it is. And so, Basil purchases a large parcel of shares in the company. However, the following week, the share price of the company crashes and it goes into liquidation. Does Irina owe Basil a duty of care? How does IRAC rule apply to this scenario?
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