, IRM1501 Assignment 2 (COMPLETE ANSWERS)
Semester 2 2025 – DUE 19 September 2025; 100% correct
solutions and explanations.
Case Summary
Global & Local Investment Advisors (Pty) Ltd v Fouché
(71/2019) [2020] ZASCA 8; 2021 (1) SA 371 (SCA)
Supreme Court of Appeal – Delivered: 18 March 2020
1. Facts of the Case
In November 2015, Mr Nickolaus Ludick Fouché, a mining
consultant, entered into a written agreement (mandate) with
Global & Local Investment Advisors (Pty) Ltd ("Global"),
appointing them as his financial service provider. This mandate
authorized Global to invest and manage funds on Mr Fouché’s
behalf. The mandate included a specific clause stating that all
instructions had to be submitted either via fax or by email, and
most importantly, had to include the client's signature.
Based on the mandate, Global opened Corporate Cash Manager
(CCM) accounts for Mr Fouché at Investec Bank, through which
various investments and transactions were to be made. The
company was remunerated through fees based on a percentage
of the invested funds.
In August 2016, unknown fraudsters managed to gain access to
Mr Fouché’s email account. They sent three separate fraudulent
emails to Global on 15, 18, and 24 August 2016. Each email
appeared to come from Mr Fouché and included instructions to
Semester 2 2025 – DUE 19 September 2025; 100% correct
solutions and explanations.
Case Summary
Global & Local Investment Advisors (Pty) Ltd v Fouché
(71/2019) [2020] ZASCA 8; 2021 (1) SA 371 (SCA)
Supreme Court of Appeal – Delivered: 18 March 2020
1. Facts of the Case
In November 2015, Mr Nickolaus Ludick Fouché, a mining
consultant, entered into a written agreement (mandate) with
Global & Local Investment Advisors (Pty) Ltd ("Global"),
appointing them as his financial service provider. This mandate
authorized Global to invest and manage funds on Mr Fouché’s
behalf. The mandate included a specific clause stating that all
instructions had to be submitted either via fax or by email, and
most importantly, had to include the client's signature.
Based on the mandate, Global opened Corporate Cash Manager
(CCM) accounts for Mr Fouché at Investec Bank, through which
various investments and transactions were to be made. The
company was remunerated through fees based on a percentage
of the invested funds.
In August 2016, unknown fraudsters managed to gain access to
Mr Fouché’s email account. They sent three separate fraudulent
emails to Global on 15, 18, and 24 August 2016. Each email
appeared to come from Mr Fouché and included instructions to
