Jeff, a financial planner, and business consultant offered to buy an olive grove located in the Hunter
Question:
Jeff, a financial planner, and business consultant offered to buy an olive grove located in the Hunter Valley region of New South Wales from his clients Mr. and Mrs. Murabito, for $850,000. The Murabitos accepted the offer in the belief that it was fair. They had dealt with Jeff ever since they had arrived from their homeland, Italy, and they trusted him to look after all their business affairs. They told him that they were anxious to sell the property so that they could retire because of ill health. The Murabitos later discovered that they had sold the property for considerably less than its market value. Jeff advertised the property and sold it for $1 million shortly after he purchased it.
Advise the Murabitos of any recourse that they may have against Jeff by arguing undue influence and unconscionable conduct.
Ethics in Accounting A Decision Making Approach
ISBN: 978-1118928332
1st edition
Authors: Gordon Klein