In Hodgkinson V

question 67

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

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Definitions:

Distinctive Plaid

A unique pattern of crisscrossed horizontal and vertical bands in multiple colors.

Prestige Products

High-quality goods or services that convey status and luxury to consumers, often associated with high prices and exclusivity.

Shopping Products

Goods that consumers spend a considerable amount of time and effort in selecting and purchasing, such as clothes, electronics, and furniture.

Unsought Products

Items that the consumer does not know about or knows about but does not initially want.