IRM1501
ASSIGNMENT 2
DUE DATE: 15 SEPT 2025
, IRM1501 Assignment 2 2025
Due 15 September 2025
ASSIGNMENT 2 (Unique Number: 860058)
Task:
Find the case of Global & Local Investment Advisors (Pty) Ltd v Fouché (71/2019 [2020]
ZASCA 8; 2021 (1) SA 371 SCA (18 March 2020)) and summarise it in the prescribed
format: (facts, legal questions, reasons for the decision and the findinds
1. Facts
On 23 November 2015, Mr Nickolaus Ludick Fouché (“Respondent”) gave Global &
Local Investments Advisors (Pty) Ltd (“Appellant”) a written mandate to invest and
manage his funds in an Investec Corporate Cash Manager account.
The mandate stipulated that all instructions must be sent by fax or email “with client’s
signature.”
In August 2016, fraudsters hacked Fouché’s email and sent three emails instructing
Global to transfer a total of R804 000 to third‑party bank accounts. Two emails ended
“Regards, Nick,” and one “Thanks, Nick,” but none bore any manuscript signature or
attachment.
Believing the emails genuine, Global effected the transfers in three tranches (R100 000;
R375 000; R329 000).
ASSIGNMENT 2
DUE DATE: 15 SEPT 2025
, IRM1501 Assignment 2 2025
Due 15 September 2025
ASSIGNMENT 2 (Unique Number: 860058)
Task:
Find the case of Global & Local Investment Advisors (Pty) Ltd v Fouché (71/2019 [2020]
ZASCA 8; 2021 (1) SA 371 SCA (18 March 2020)) and summarise it in the prescribed
format: (facts, legal questions, reasons for the decision and the findinds
1. Facts
On 23 November 2015, Mr Nickolaus Ludick Fouché (“Respondent”) gave Global &
Local Investments Advisors (Pty) Ltd (“Appellant”) a written mandate to invest and
manage his funds in an Investec Corporate Cash Manager account.
The mandate stipulated that all instructions must be sent by fax or email “with client’s
signature.”
In August 2016, fraudsters hacked Fouché’s email and sent three emails instructing
Global to transfer a total of R804 000 to third‑party bank accounts. Two emails ended
“Regards, Nick,” and one “Thanks, Nick,” but none bore any manuscript signature or
attachment.
Believing the emails genuine, Global effected the transfers in three tranches (R100 000;
R375 000; R329 000).
