I gave free advice on stock market to a friend resulting in loss. I had told him earlier that I should not be blamed for loss.
Friend wants to drag me to court for compensation. Can he win the case?
1 Answer from Attorneys
The probability of your friend winning the case is low or negligible. You have enter into a pro buno advisory. It is not a contract as there is no consideration. Hence the same cannot be enforced. Similarly even if it is assumed that there exists any contract between you both, you have made a disclaimer of not being blamed in case of any loss incurred by him. Hence again on this count, it cannot be enforced. Most importantly assuming a contract exists, it has been entered into for a speculative purpose which is not recognised by law and hence any contract for such purpose cannot be enforced.
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