In Hodgkinson V

question 24

Multiple Choice

In Hodgkinson v. Simms, an accountant advised a client to invest in a real estate development while also acting for the developers. What did the Supreme Court of Canada find?

• A) The presence of a financial risk was the identifying feature of a fiduciary relationship and, in this case, imposed the fiduciary duty.
• B) The presence of a financial risk was the identifying feature of a fiduciary relationship but, in this case, did not impose a fiduciary duty.
• C) The presence of loyalty, trust, and confidence were identifying features of a fiduciary relationship and, in this case, imposed the fiduciary duty.
• D) A fiduciary relationship could not arise in circumstances where an investor acted of his own accord.
• E) A fiduciary relationship could not arise in commercial circumstances, such as those found in this case.

---

Definitions:

Means-Tested Programs

These are government assistance programs only available to individuals who fall below a certain income level.

Low Incomes

Earnings that fall below the average or median income level within a given region or economy.

In-Kind Benefits

Non-cash compensation or assistance provided to individuals, such as food stamps or housing assistance, often aimed at meeting basic needs.

Lack Of Education

The state of being deprived of the knowledge, skills, and attitudes needed to achieve personal and societal development.