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Reliance on legal advice: Difference between revisions
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:'''''The Custodian May Consult with Counsel''''' | :'''''The Custodian May Consult with Counsel''''' | ||
:''The Custodian will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice, and shall not be [[deemed]] to have been [[negligent]] [[with respect to]] any action taken or [[Act or omission|omitted]] [[pursuant to]] such advice.'' | :''The Custodian will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice, '''and shall not be [[deemed]] to have been [[negligent]] [[with respect to]] any action taken or [[Act or omission|omitted]] [[pursuant to]] such advice'''.'' | ||
Have no truck with this nonsense. | Have no truck with this nonsense. | ||
No one is stopping you getting whatever legal advice, on your dime you want to. It’s a free country. And no one is stopping you relying on it. It may even be (weak) evidence to suggest you have discharged your [[duty of care]]. ''But on your head be it''. | |||
Folks, it’s like this: If you choose to get legal advice, but it’s wrong, and you rely on it, and you end up breaching your contract causing your client a loss, the answer is ''not'' to disclaim your liability to your client. It is to sue the arse off your lawyer. That’s what you pay the blighters for: so they, and that juicy professional indemnity insurance policy they never seem to claim on, will cover your poor, huddled self. By paying your lawyer’s bill you are paying your little portion of that insurance premium. | Folks, it’s like this: If you choose to get legal advice, but it’s wrong, and you rely on it, and you end up breaching your contract causing your client a loss, the answer is ''not'' to disclaim your liability to your client. It is to sue the arse off your lawyer. That’s what you pay the blighters for: so they, and that juicy professional indemnity insurance policy they never seem to claim on, will cover your poor, huddled self. By paying your lawyer’s bill you are paying your little portion of that insurance premium. | ||