Day v Mead - [1987] 2 NZLR 443

Law practitioners — Practitioner and client — Fiduciary duty — Purchase of company's shares on advice of solicitor — Solicitor failed to recommend independent advice before client made his investments — Client knew that solicitor was a shareholder and that his firm's nominee company had already lent it some money — Client initially invested $20,000 and later, after some involvement with the company, he invested a further $80,000 — Whether solicitor was in breach of fiduciary duty to client — Whether damages awarded to client as compensation should reflect his share of responsibility for the loss of $80,000.

Practice and procedure — Judgments and orders — Interest — Whether interest should be awarded on amount of damages and for what period — Whether prescribed rate at date of judgment is applicable for the whole period — Judicature Act 1908, s 87.

Tort — Cause of action — Concurrent liability in tort and contract? — Professional negligence — Observations on whether there should be concurrent liability in tort and contract for breach of professional duties.