A lawyer advised his client that they could no longer participate in a certain business because of...

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A lawyer advised his clientthat they could no longer participate in a certain business becauseof changes to the tax laws. He then secretly took advantage of anexception in those tax laws to start up his own business doing thesame thing. He failed to advise his client of that exception andkept his own participation in the business a secret whilecontinuing to act as their lawyer. When the client found out, hesued both the lawyer and his partners in the law firm.
Â Â Â Â Â Â Â Â Â Â Â Explain the nature of the complaint and the appropriate remedy inthese circumstances. Should the innocent partners also be liablefor the loss?

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ANSWER In this situation the legal counselor has neglected to guidance Monarch accurately and totally on all issue pertinent to the proceeding with his business and rather disguised reality which has been utilized for individual preferred position In this manner the idea of the griping here See Answer

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