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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
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Could someone check whether this situation would be a breach

Resolved Question:

Could someone check whether this situation would be a breach of the implied term (Duty of Care).
Submitted: 2 years ago.
Category: Law
Customer: replied 2 years ago.
Relist: I still need help.
Expert:  Ash replied 2 years ago.
Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.

What is the situation?

Customer: replied 2 years ago.

Hello.


 


Basically, I have asked you a question before. But the situation is that I was looking to deposit £120,000 into a broker who has a retail platform and an institutional platform. I have made clear concerns about the negative slippage (Hence the negative cost of execution) experienced before and asked whether I should be using the retail platform or institutional platform.


 


Members of staff at this company has promised that, the retail platform would be suffice and someone have called me to fix the problems I have experienced before. However such a person has never called and the platform remained to be problematic.


 


When I visited their offices, they then told me to use the institutional platform and not the retail platform when the negative costs is already very high and they simply offered no fix to it.


 


Hence, technically staffs at this firm knew that the retail platform is not sufficient for my needs but still sold it to me. What does this breach?

Expert:  Ash replied 2 years ago.
If you were told it would be an X platform and it was a Y platform then it could be a breach of contract by an express term.

This could potentially be breach of contract by misrepresentation. That is where one party makes a statement which turns out to be false, but that statement induces another into that contract.

Can I clarify anything for you about this today please?

Alex

Customer: replied 2 years ago.

But if they said X Platform is sufficient for my needs and therefore I don't need Y. But it turns out that X couldn't handle my needs and Y is needed. Then it is a misrepresentation?

Expert:  Ash replied 2 years ago.
Yes its still breach of contract pursuant to Section 13 of the Sale and Supply of Goods and Services Act 1982.

Alex

Customer: replied 2 years ago.

Right is it more or less a straight forward claim.

Expert:  Ash replied 2 years ago.
Yes,



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Category: Law
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Experience: Solicitor with 5+ years experience
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