LML4807
Assignment 1 Semester 2 2024
Detailed Solutions, References & Explanations
Unique number:
Due Date: 9 September 2024
3 DIFFERENT ANSWERS PROVIDED
Durr v ABSA Bank and Another 1997 (3) SA 448 (SCA)
In the case of Durr v ABSA Bank and Another, the appellant, Valerie Elsie Cornwell Purr
(referred to as Mrs. Durr), sought investment advice from Mr. Myles Stuart, an investment
advisor employed by ABSA Bank. Mrs. Durr and her family members followed Stuart’s
advice and invested significant sums of money in debentures and preference shares of a
company called Supreme. The investments ultimately proved disastrous, leading to
substantial financial losses. Mrs. Durr, acting on behalf of herself and her family members,
sued ABSA Bank and Stuart for negligence, claiming that the advice given was
inadequate and lacked the necessary skill and care expected of an expert investment
advisor.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.
Assignment 1 Semester 2 2024
Detailed Solutions, References & Explanations
Unique number:
Due Date: 9 September 2024
3 DIFFERENT ANSWERS PROVIDED
Durr v ABSA Bank and Another 1997 (3) SA 448 (SCA)
In the case of Durr v ABSA Bank and Another, the appellant, Valerie Elsie Cornwell Purr
(referred to as Mrs. Durr), sought investment advice from Mr. Myles Stuart, an investment
advisor employed by ABSA Bank. Mrs. Durr and her family members followed Stuart’s
advice and invested significant sums of money in debentures and preference shares of a
company called Supreme. The investments ultimately proved disastrous, leading to
substantial financial losses. Mrs. Durr, acting on behalf of herself and her family members,
sued ABSA Bank and Stuart for negligence, claiming that the advice given was
inadequate and lacked the necessary skill and care expected of an expert investment
advisor.
Terms of use
By making use of this document you agree to:
• Use this document as a guide for learning, comparison and reference purpose,
• Not to duplicate, reproduce and/or misrepresent the contents of this document as your own work,
• Fully accept the consequences should you plagiarise or misuse this document.
Disclaimer
Extreme care has been used to create this document, however the contents are provided “as is” without
any representations or warranties, express or implied. The author assumes no liability as a result of
reliance and use of the contents of this document. This document is to be used for comparison, research
and reference purposes ONLY. No part of this document may be reproduced, resold or transmitted in any
form or by any means.
