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- 4 Marks
BL – May 2016 – L1 – SB – Q4a – Law of Tort
Advise on legal action for losses incurred due to professional advice in a business investment.
Question
Femi, an entrepreneur, and his friend Umukan, a Chartered Accountant, are members of the same social club. Femi invited Emike to invest in sachet water business. Emike sought the professional advice of Umukan and paid him a fee for the advice. Umukan informed Emike that Femi’s business was doing well. Emike invested in the business based on Umukan’s professional advice and eventually suffered a loss of ₦350,000. Emike has come to you for advice.
Required:
Advise Emike on his chances of succeeding in a legal action he intends to institute against Umukan.
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- Tags: Investment advice, Legal Action, Professional Negligence
- Level: Level 1
- Topic: Law of Tort
- Series: MAY 2016
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- 4 Marks
BL – May 2016 – L1 – SB – Q4a – Law of Tort
Advise on legal action for losses incurred due to professional advice in a business investment.
Question
Femi, an entrepreneur, and his friend Umukan, a Chartered Accountant, are members of the same social club. Femi invited Emike to invest in sachet water business. Emike sought the professional advice of Umukan and paid him a fee for the advice. Umukan informed Emike that Femi’s business was doing well. Emike invested in the business based on Umukan’s professional advice and eventually suffered a loss of ₦350,000. Emike has come to you for advice.
Required:
Advise Emike on his chances of succeeding in a legal action he intends to institute against Umukan.
Find Related Questions by Tags, levels, etc.
- Tags: Investment advice, Legal Action, Professional Negligence
- Level: Level 1
- Topic: Law of Tort
- Series: MAY 2016
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- 4 Marks
BCL – Nov 2016 – L1 – Q6b – Accounts and Audit
Define professional negligence and its implications in a legal context.
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- Tags: Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
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- 4 Marks
BCL – Nov 2016 – L1 – Q6b – Accounts and Audit
Define professional negligence and its implications in a legal context.
Find Related Questions by Tags, levels, etc.
- Tags: Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
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- 6 Marks
BCL – Nov 2016 – L1 – Q6a – Accounts and Audit
Assess whether Capare Industries Ltd. would be justified in taking legal action against the firm of auditors.
Question
Capare Industries Ltd, which already held shares in a company known as Logotex Co., later made a takeover bid on the strength of its accounts prepared by Dickman Ltd., a firm of auditors. Capare Industries Ltd realized that the accounts were inaccurate in that they showed a pre-tax profit of GH¢1.3 million when in actual fact there had been a loss of GH¢400,000. It was the case of Capare Industries Ltd that if they had known the true situation, they would not have made a bid at the price they did or may not have made a bid at all. They argued that they were owed a duty of care by the auditors as new investors and as existing shareholders who in reliance on the accounts had bought more shares.
Required:
Explain whether Capare Ltd would be justified in taking action against the firm of auditors.
Find Related Questions by Tags, levels, etc.
- Tags: Auditors, Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
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- 6 Marks
BCL – Nov 2016 – L1 – Q6a – Accounts and Audit
Assess whether Capare Industries Ltd. would be justified in taking legal action against the firm of auditors.
Question
Capare Industries Ltd, which already held shares in a company known as Logotex Co., later made a takeover bid on the strength of its accounts prepared by Dickman Ltd., a firm of auditors. Capare Industries Ltd realized that the accounts were inaccurate in that they showed a pre-tax profit of GH¢1.3 million when in actual fact there had been a loss of GH¢400,000. It was the case of Capare Industries Ltd that if they had known the true situation, they would not have made a bid at the price they did or may not have made a bid at all. They argued that they were owed a duty of care by the auditors as new investors and as existing shareholders who in reliance on the accounts had bought more shares.
Required:
Explain whether Capare Ltd would be justified in taking action against the firm of auditors.
Find Related Questions by Tags, levels, etc.
- Tags: Auditors, Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
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- 2 Marks
BCL – Nov 2018 – L1 – Q1e – Tort
State two elements required to establish a case of professional negligence.
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- 2 Marks
BCL – Nov 2018 – L1 – Q1e – Tort
State two elements required to establish a case of professional negligence.
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- 2 Marks
BCL – Nov 2018 – L1 – Q1d – Tort
Define professional negligence in the context of tort law.
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- 2 Marks
BCL – Nov 2018 – L1 – Q1d – Tort
Define professional negligence in the context of tort law.
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- 10 Marks
BCL – Nov 2017 – L1 – Q3a – Tort, Contract Law
Discuss whether an investor can take action against an investment company for negligent advice leading to financial loss.
Question
a) Bobo Company Limited puts up an advert in the ‘Daily Times’ newspaper inviting members of the public to purchase shares. Mr. Kobina Fosu, an investor, decided to purchase some of the shares. He consulted an investment firm to advise on whether or not he should purchase the shares of the company. The investment firm advised Mr. Kobina Fosu that the company was buoyant and that its capital base was strong and attractive. As a result, Mr. Kobina Fosu bought a substantial number of shares of the company. Two months after the purchase of the shares, however, the company went bankrupt.
Required:
What advice, if any, will you give to Mr. Kobina Fosu? (10 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Duty of Care, Fiduciary Duty, Investment advice, Professional Negligence
- Level: Level 1
- Topic: Contract Law, Tort
- Series: NOV 2017
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- 10 Marks
BCL – Nov 2017 – L1 – Q3a – Tort, Contract Law
Discuss whether an investor can take action against an investment company for negligent advice leading to financial loss.
Question
a) Bobo Company Limited puts up an advert in the ‘Daily Times’ newspaper inviting members of the public to purchase shares. Mr. Kobina Fosu, an investor, decided to purchase some of the shares. He consulted an investment firm to advise on whether or not he should purchase the shares of the company. The investment firm advised Mr. Kobina Fosu that the company was buoyant and that its capital base was strong and attractive. As a result, Mr. Kobina Fosu bought a substantial number of shares of the company. Two months after the purchase of the shares, however, the company went bankrupt.
Required:
What advice, if any, will you give to Mr. Kobina Fosu? (10 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Duty of Care, Fiduciary Duty, Investment advice, Professional Negligence
- Level: Level 1
- Topic: Contract Law, Tort
- Series: NOV 2017
Report an error
- 4 Marks
BL – May 2016 – L1 – SB – Q4a – Law of Tort
Advise on legal action for losses incurred due to professional advice in a business investment.
Question
Femi, an entrepreneur, and his friend Umukan, a Chartered Accountant, are members of the same social club. Femi invited Emike to invest in sachet water business. Emike sought the professional advice of Umukan and paid him a fee for the advice. Umukan informed Emike that Femi’s business was doing well. Emike invested in the business based on Umukan’s professional advice and eventually suffered a loss of ₦350,000. Emike has come to you for advice.
Required:
Advise Emike on his chances of succeeding in a legal action he intends to institute against Umukan.
Find Related Questions by Tags, levels, etc.
- Tags: Investment advice, Legal Action, Professional Negligence
- Level: Level 1
- Topic: Law of Tort
- Series: MAY 2016
Report an error
- 4 Marks
BL – May 2016 – L1 – SB – Q4a – Law of Tort
Advise on legal action for losses incurred due to professional advice in a business investment.
Question
Femi, an entrepreneur, and his friend Umukan, a Chartered Accountant, are members of the same social club. Femi invited Emike to invest in sachet water business. Emike sought the professional advice of Umukan and paid him a fee for the advice. Umukan informed Emike that Femi’s business was doing well. Emike invested in the business based on Umukan’s professional advice and eventually suffered a loss of ₦350,000. Emike has come to you for advice.
Required:
Advise Emike on his chances of succeeding in a legal action he intends to institute against Umukan.
Find Related Questions by Tags, levels, etc.
- Tags: Investment advice, Legal Action, Professional Negligence
- Level: Level 1
- Topic: Law of Tort
- Series: MAY 2016
Report an error
- 4 Marks
BCL – Nov 2016 – L1 – Q6b – Accounts and Audit
Define professional negligence and its implications in a legal context.
Find Related Questions by Tags, levels, etc.
- Tags: Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
Report an error
- 4 Marks
BCL – Nov 2016 – L1 – Q6b – Accounts and Audit
Define professional negligence and its implications in a legal context.
Find Related Questions by Tags, levels, etc.
- Tags: Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
Report an error
- 6 Marks
BCL – Nov 2016 – L1 – Q6a – Accounts and Audit
Assess whether Capare Industries Ltd. would be justified in taking legal action against the firm of auditors.
Question
Capare Industries Ltd, which already held shares in a company known as Logotex Co., later made a takeover bid on the strength of its accounts prepared by Dickman Ltd., a firm of auditors. Capare Industries Ltd realized that the accounts were inaccurate in that they showed a pre-tax profit of GH¢1.3 million when in actual fact there had been a loss of GH¢400,000. It was the case of Capare Industries Ltd that if they had known the true situation, they would not have made a bid at the price they did or may not have made a bid at all. They argued that they were owed a duty of care by the auditors as new investors and as existing shareholders who in reliance on the accounts had bought more shares.
Required:
Explain whether Capare Ltd would be justified in taking action against the firm of auditors.
Find Related Questions by Tags, levels, etc.
- Tags: Auditors, Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
Report an error
- 6 Marks
BCL – Nov 2016 – L1 – Q6a – Accounts and Audit
Assess whether Capare Industries Ltd. would be justified in taking legal action against the firm of auditors.
Question
Capare Industries Ltd, which already held shares in a company known as Logotex Co., later made a takeover bid on the strength of its accounts prepared by Dickman Ltd., a firm of auditors. Capare Industries Ltd realized that the accounts were inaccurate in that they showed a pre-tax profit of GH¢1.3 million when in actual fact there had been a loss of GH¢400,000. It was the case of Capare Industries Ltd that if they had known the true situation, they would not have made a bid at the price they did or may not have made a bid at all. They argued that they were owed a duty of care by the auditors as new investors and as existing shareholders who in reliance on the accounts had bought more shares.
Required:
Explain whether Capare Ltd would be justified in taking action against the firm of auditors.
Find Related Questions by Tags, levels, etc.
- Tags: Auditors, Duty of Care, Ghana, Legal Liability, Professional Negligence
- Level: Level 1
- Topic: Accounts and audit
- Series: NOV 2016
Report an error
- 2 Marks
BCL – Nov 2018 – L1 – Q1e – Tort
State two elements required to establish a case of professional negligence.
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Report an error
- 2 Marks
BCL – Nov 2018 – L1 – Q1e – Tort
State two elements required to establish a case of professional negligence.
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Report an error
- 2 Marks
BCL – Nov 2018 – L1 – Q1d – Tort
Define professional negligence in the context of tort law.
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Report an error
- 2 Marks
BCL – Nov 2018 – L1 – Q1d – Tort
Define professional negligence in the context of tort law.
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Report an error
- 10 Marks
BCL – Nov 2017 – L1 – Q3a – Tort, Contract Law
Discuss whether an investor can take action against an investment company for negligent advice leading to financial loss.
Question
a) Bobo Company Limited puts up an advert in the ‘Daily Times’ newspaper inviting members of the public to purchase shares. Mr. Kobina Fosu, an investor, decided to purchase some of the shares. He consulted an investment firm to advise on whether or not he should purchase the shares of the company. The investment firm advised Mr. Kobina Fosu that the company was buoyant and that its capital base was strong and attractive. As a result, Mr. Kobina Fosu bought a substantial number of shares of the company. Two months after the purchase of the shares, however, the company went bankrupt.
Required:
What advice, if any, will you give to Mr. Kobina Fosu? (10 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Duty of Care, Fiduciary Duty, Investment advice, Professional Negligence
- Level: Level 1
- Topic: Contract Law, Tort
- Series: NOV 2017
Report an error
- 10 Marks
BCL – Nov 2017 – L1 – Q3a – Tort, Contract Law
Discuss whether an investor can take action against an investment company for negligent advice leading to financial loss.
Question
a) Bobo Company Limited puts up an advert in the ‘Daily Times’ newspaper inviting members of the public to purchase shares. Mr. Kobina Fosu, an investor, decided to purchase some of the shares. He consulted an investment firm to advise on whether or not he should purchase the shares of the company. The investment firm advised Mr. Kobina Fosu that the company was buoyant and that its capital base was strong and attractive. As a result, Mr. Kobina Fosu bought a substantial number of shares of the company. Two months after the purchase of the shares, however, the company went bankrupt.
Required:
What advice, if any, will you give to Mr. Kobina Fosu? (10 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Duty of Care, Fiduciary Duty, Investment advice, Professional Negligence
- Level: Level 1
- Topic: Contract Law, Tort
- Series: NOV 2017
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