Question

Business law

Farid and Ah Fong graduated from a university in 2020 with a qualification in Bachelor of Business and
Commerce. They decided to form a business offering advice to clients who wish to grow their businesses
at a large scale. Fatimah who is a novice businesswoman is looking for a successful business partner in
order to grow her business. She met a businessman by the name Felix but she is unsure of his financial
credibility. She approached Farid and Ah Fong for consultation and advice as she came across their
advertisement in the social media. Farid and Ah Fong did a thorough business research and recommended
to Fatimah to proceed to have a business dealing with Felix as a business partner. Fatimah approached
Felix and entered into a multi-million-dollar project. After a few months, Fatimah discovered that Felix is
a financially troubled businessman. Fatimah is very upset. She approached Farid and Ah Fong for a
clarification. However, Farid and Ah Fong claimed that they have conducted a thorough research on Felix’s
financial standing. However, it has now transpired that Farid and Ah Fong did not look at the financial
standing of Felix for the year 2018 but only looked at the financial standing for the year 2019. They claimed
that there is no need to check the financial standing for the last two years. They also claimed that since
they just graduated, they do not have much experience. Fatimah seeks your advice as to her rights against
Farid and Ah Fong.

Answer 1

Answer:

The key legal conflict or issue in this case is that the financial feasibility or reputation of Mr. Felix, whom Fatima had approached to the proposed business relationship, has been allegedly malinformed or deceived in Farid and Ah Fong. In this context, it was subsequently found that Mr. Felix's financial condition in precarious and therefore can not ideally be relied on for any corporate or company undertaking or project, given Farid and Ah Fong 's primary assurances concerning Mr. Felix's financial solvency. Now that it has been absolutely unsufficient, as stated by Farid and Ah Fong, to find Mr. Felix's financial records and status for the last two years, it therefore seemed to be cautiously appropriate to enter into company or business alliances with Mr. Felix based on his financial standing or position in 2019.

In view of any particular action or move which Fatima may take against Farid or Ah Fong, it is vital that the argument of the consultative firm first be checked as any official or nonverbal Farid and Ah Fong communications will officially be brought before the judiciary in the event Fatima wants to file any complaint against the firm. In that case, the Fatima Advisory Committee has no right to do so. Secondly, it is also important that the customer and Farid and Ah Fong as the contractor or service provider review any official or written contractual commercial arrangement between Fatima that presumably will contain all applicable terms and conditions relating to the Fatima arrangement various contingencies of the service in this case. Now, if clearly and without ambiguity it is indicated that the company can not officially carry out a financial status or position examination of the person concerned as assigned officially by Mrs./Ms. And if Fatima's client is completely read, validated and legally accepted, then the legal responsibility will primarily rest on her if the matter escalates into a possible lawsuit. FATIMA's client is fully confirmed. If this does not apply, then Fatima shall, for neglect of services, be legally entitled to take some legal action against the company; As such, she was not expressly and officially given any such conditions which violate her customer's rights and prerogatives legally. Thirdly, the oral claim or the argument of the client about its technical and work-related inexperience in financial advisory business may also benefit the firm if it files official lawsuits against the company. The company did not inform Fatima or the client in this case of their professional skills, or credibility, based on information in the case study presented in question, when the service had first been assigned to them. In order to justify or protect professional incompets and shortcomings of the company, Fatima does not hereby support any such justification legally or technologically, and therefore any legal action against Farid and Ah Fong on the grounds of professional incompetence and the violation of its customers' rights is legally justified.