LEGAL TINGS | A PODCAST ABOUT ALL THINGS LAW AND LEGAL.

A key executive officer of a Singapore real estate company misled customers into paying over $200,000 for homes in a fraudulent New Zealand housing project, leading the Court to find him personally liable for his misleading statements.

Key Points:

1. Employee Liability:

Employees passing on false information without knowledge are not automatically liable; the sales agent was not held accountable as she believed the company had conducted due diligence.
Employees knowingly participating in scams can be held responsible.

2. Trust in Executives:

Customers often trust assurances from executives. The company`s boss misled buyers with false claims, assuming personal responsibility for his statements.

3. Honesty and Due Care:

Executives who act honestly and conduct due diligence generally avoid liability. The executive`s failure to verify information resulted in personal accountability.

This case underscores the importance of integrity and due diligence in leadership.

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Documents created by parties without external verification should be approached with caution, as they may not be accepted as evidence in disputes.

Example: A partner submitted a spreadsheet detailing $400,000 in expenses for setting up a bank. However, without supporting receipts or invoices, the court rejected this document.

Always approach "good deals" with healthy skepticism; if an investment opportunity seems too good to be true, it likely is. Sellers often reserve the most profitable deals for themselves rather than sharing them with strangers.

Remember, thorough verification is key to protecting your interests.

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Joint ownership of property may seem straightforward, but it involves shared contributions and responsibilities that can complicate matters after a loved one passes away.

In a case where the eldest son became the sole legal owner of the property after his mother`s death, his beneficial interest was still subject to equitable distribution based on the contributions made by all siblings.

Why is this important?

Imagine siblings jointly purchasing a property with their parent. When the parent passes away, the surviving sibling may assume sole ownership. However, equitable distribution ensures that all heirs receive a fair allocation of assets based on their contributions, preventing potential disputes and resentment among siblings.

Remember, understanding joint property ownership is key to ensuring fairness among siblings and protecting family relationships.

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