- Flynote
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Delict – pure economic loss – financial institution – client calling up investment portfolio – funds paid out in terms of investment agreement – client’s directors misappropriating funds – wrongfulness not proved – no legal duty on institution to safeguard funds – institution not negligent – theft of funds not reasonably foreseeable – neither factual nor legal causation established – appeal upheld
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Cited documents 10
Judgment 5
Legislation 5
| 1. | Constitution of the Republic of South Africa, 1996 | 3452 citations |
| 2. | Financial Advisory and Intermediary Services Act, 2002 | 303 citations |
| 3. | Trust Property Control Act, 1988 | 292 citations |
| 4. | Collective Investment Schemes Control Act, 2002 | 137 citations |
| 5. | Financial Institutions (Protection of Funds) Act, 2001 | 87 citations |