Breach of Contract
A claim for breach of contract may be based upon any Customer Agreements which the client signs when an account is opened with a brokerage or advisory firm. These standard forms typically require the brokerage firm to handle the account in accordance with the rules and regulations of the industry. A breach of contract claim can include mismanagement of the account based upon implied warranties to handle the account with due care and diligence.A Breach of Good Faith may Also be the Basis of an Action
A breach of an implied covenant of good faith and fair dealing may also provide the basis of a cause of action for breach of contract. You may have a claim for breach of contract if your broker, advisor, or brokerage firm failed to make suitable investments, engaged in improper sales practices, and otherwise violated federal, state and industry regulations in their handling of your account, contrary to the agreement to abide by industry rules and to provide competent and professional services.
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