, IRM1501 Assignment 2 (COMPLETE ANSWERS)
Semester 2 2025 (860058) - DUE 15 September 2025;
100% TRUSTED Complete, trusted solutions and
explanations.
2 different answers provided
Global & Local Investments Advisors (Pty) Ltd v Fouché
(71/2019) [2020] ZASCA 8;2021 (1) SA 371 (SCA)
Facts
On 23 November 2015, Mr. Nickolaus Ludick Fouché, a mining
consultant, granted Global & Local Investments Advisors (Pty) Ltd
(“Global”) a written mandate. The mandate authorised Global to
open and manage, on his behalf, a Corporate Cash Manager
(CCM) account at Investec Bank, with the condition that all
instructions must be sent by fax or by email with the client’s
signature.
In August 2016, fraudsters accessed Mr. Fouché’s Gmail account
and sent three emails, using his genuine email address, instructing
Global to transfer funds to third-party First National Bank
accounts. The emails concluded with “Regards, Nick” or “Thanks,
Nick” but lacked any signature attachments.
Acting on these emails, Global made transfers totalling R804,000
(R100,000 on 15 Aug, R375,000 on 18 Aug, and R329,000 on
24 Aug 2016). When Mr. Fouché became aware he had not
authorised these transfers, he sued Global for breach of mandate.
The High Court ruled in his favour.
Semester 2 2025 (860058) - DUE 15 September 2025;
100% TRUSTED Complete, trusted solutions and
explanations.
2 different answers provided
Global & Local Investments Advisors (Pty) Ltd v Fouché
(71/2019) [2020] ZASCA 8;2021 (1) SA 371 (SCA)
Facts
On 23 November 2015, Mr. Nickolaus Ludick Fouché, a mining
consultant, granted Global & Local Investments Advisors (Pty) Ltd
(“Global”) a written mandate. The mandate authorised Global to
open and manage, on his behalf, a Corporate Cash Manager
(CCM) account at Investec Bank, with the condition that all
instructions must be sent by fax or by email with the client’s
signature.
In August 2016, fraudsters accessed Mr. Fouché’s Gmail account
and sent three emails, using his genuine email address, instructing
Global to transfer funds to third-party First National Bank
accounts. The emails concluded with “Regards, Nick” or “Thanks,
Nick” but lacked any signature attachments.
Acting on these emails, Global made transfers totalling R804,000
(R100,000 on 15 Aug, R375,000 on 18 Aug, and R329,000 on
24 Aug 2016). When Mr. Fouché became aware he had not
authorised these transfers, he sued Global for breach of mandate.
The High Court ruled in his favour.
