THE FACTS

HANDLE YOUR LIFE AND AFFAIRS WITH THE UTMOST CIRCUMSPECTION--OR PAY THE PRICE.BE PARTICULARLY ON GUARD AGAINST YOUR NON VERBAL BEHAVIOUR, LESS IT ATTRACTS THE WRONG SPECIES INTO YOUR TURF.IGNORE THIS ADVICE TO YOUR OWN PERIL. VIJAY- THE MIDNIGHT OWL

DECEIVED BY AUDITORS

In Caparo Industries PLC v Dickman (1990)the Company's accounts were audited in accordance with the Company's Act 1985.Some members decided to purchase more shares and take over the Company after seeing the accounts.The accounts turned out to be inaccurate.The members incurred a huge financial loss,which they blamed on the negligently audited accounts.They sued.The Court held that the onus was clearly on the shareholders in these circumstances to make their own independant inquiries,as it was unreasonable to rely on the auditors.Vijay- The Midnight Owl.

Advice from Uncle VJ- If the person before you seems to be overly persuasive or the documentation presented appears neat and perfect-pause.Something is wrong somewhere.

ARE YOU A FRAUD?

Section 17 of the Contracts Act 1950 defines what is fraud.It states that fraud includes any of the follwing acts committed by a party to a contract or with his connivance,or by his agent,WITH INTENT TO DECEIVE another party thereto or his agent to enter into a contract:

(a)the suggestion,as to a fact,of that which is not true
by one who does not believe it to be true

(b)the active concealment of a fact by one having knowledge
of belief of the fact.

(c) a promise made without any intention of performing it

(d)any other act fitted to deceive

(e)any such act or omission as the law specially
declares to be fraudulent

Personally I think we all are frauds to some extent but will not admit it AND WILL NEVER ADMIT IT!!!!