Home / Malaysia Business & Finance Law / Banking & Finance Law Terms and Conditions Banking

Terms and Conditions (modified 0 times) EEC1 Hello, I am new to this forum and would appreciate if someone could provide me with some assistance. A friend of mine invested in one of the available global fund in a bank. From the fact that he does not speak English or write English, the financial consultant explained/translated the agreement in Chinese. My friend trusted the consultant and verbally asked the consultant twice to confirm on the rate of return for the investment before signing on the agreement. Recently he found out that the terms and conditions in the agreement is different from what was verbally explained to him. A complaint was lodged with the bank. However the bank insisted that the agreement should be according to the terms and conditions that he has originally signed on. The bank further explained that they have informed their consultants to be more thorough with their explanation in future. Question: Is this a legal blinding contract/agreement, when it is now realized that the terms and conditions are different from what was verbally explained to him. In my opinion, I strongly feel that the financial consultant was not ethical, the explanation was not clear or there might be intention to deceive. Should the bank be held responsible? Please advise. 29 May, 2008 23:26:08

RE:Terms and Conditions (modified 0 times) IQ Legal In order to prove the bank or its financial advisor had some degree of culpability (fault) you must prove they did not explain what was required. From what you say, they explained to her the details in Chinese, she must prove that they failed to address or explain the risks involved in such an investment adequately and that she asked for such advice. There are other issues as well. We act as consultants to lawyers throuout Asia. If you find a lawyer and find they are unable to act, ask them to consult with us and we will assist. We are based in Australia. 01 Jun, 2008 09:57:09

Disclaimer - Please Read Carefully

These Bulletin Board pages are intended as a public service primarily to allow non-lawyers and lawyers to share experiences and opinions with other non-lawyers and lawyers. They are NOT intended to be a source of advertising, solicitation, legal advice, self-promotion or disparagement. Lawyerment assumes absolutely no responsibility for postings or their content. Visitors may post questions, comments and replies without prior review by Lawyerment, but we reserve the right to delete any postings (in whole or in part) for any reason at any time.
However, the fact that a posting remains on site NEVER means that it has been approved or endorsed by Lawyerment. By making a posting you are agreeing that the material you post becomes the property of Lawyerment. Lawyerment is a unit of Magnificent Communication. Visitors should exercise great caution when reading this (or any other) Bulletin Board. Be aware that those who post messages may not be who they claim to be. Never to rely on any advice in legal matters except from an attorney you have retained to represent you and your interests. To locate and retain an attorney we suggest you visit our Lawyerment Lawyers' Directory.
Click here to visit Lawyerment.com.my for 1000's of answers to legal questions. Please read our Privacy Policy and Disclaimer & Conditions Of Use.
Copyright © 1999-2007 Lawyerment.com. All rights reserved