, LML4807 Assignment 1 (COMPLETE ANSWERS) Semester 2
2024 - DUE 9 September 2024 ; 100% TRUSTED Complete,
trusted solutions and explanations.
Briefly discuss the following prescribed case: Durr v ABSA
Bank and Another 1997 (3) SA 448 (SCA) The allocation of
marks for the discussion is as follows: 1. Facts of the case (3) 2.
The legal issues before the court (1) 3. The decision of the court
(meaning the reasons for the decision of the court) (5) 4. Critical
comment (your own opinion on whether the court correctly
interpreted the law, or whether there is room for the law to be
amended to some extent) (1)
Durr v ABSA Bank and Another 1997 (3) SA 448 (SCA)
1. Facts of the Case (3 marks)
In the case of Durr v ABSA Bank and Another, Mr. Durr, an
investor, sought financial advice from ABSA Bank's
representative on where to invest a substantial amount of money.
The representative recommended an investment in Masterbond,
a company offering high returns on property bonds. Mr. Durr
followed this advice and invested, but the investment turned out
to be a poor one as Masterbond was later liquidated, resulting in
significant financial loss for Mr. Durr. He then sued ABSA
Bank and its representative for negligent financial advice.
2. The Legal Issues Before the Court (1 mark)