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Part II Causes of Action, 5 Claims in Contract

Gerard McMeel

From: McMeel and Virgo On Financial Advice and Financial Products (3rd Edition)

Edited By: Gerard McMeel, John Virgo

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 23 January 2022

Subject(s):
Financial Services and Markets Act 2000 — Enforcement — UK Financial Conduct Authority (FCA)

This chapter considers a number of issues which are crucial to financial advice and financial products. First, it looks into the circumstances in which a court will decide that financial advice has been proffered under the terms of an applicable contract. In particular, it addresses the question of whether the doctrine of consideration is satisfied where the adviser is not directly paid by the recipient. Secondly, it considers incorporation and the implication issues of particular concern in a financial services context. Thirdly, it examines the modern approach to interpreting contracts, which has been honed as a result of the problems arising from financial services cases. Fourth, the chapter deals with the twin requirements of the Unfair Terms in Consumer Contracts Regulations 1999.

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