The Nature and History of Equity - Ali and Sara - Law Assignment Help

Assignment Task

Question:
Ali and Sara have been friends since university. They’re both on the board of the local child care centre and campaign together with the local street action group to save their famous street trees. Ali, a solicitor at Labrador Legal, also does all of the finance work for Sara’s boutique investment firm at the Gold Coast in Queensland.
Sara’s business is doing really well. Encouraged by all the extra work Ali is getting from Sara’s firm, he invites Sara to join his exclusive investment circle giving some of his clients’ access to priority investments. There are a number of documents that need to be signed. This includes agreeing to pay the circle a non-refundable joining fee of $50,000. Sara signs the documents after one of the local street action group meetings at Ali’s house. She doesn’t read them in detail because its late in the evening, Ali says she needs to sign them tonight so he can get a deal going and she doesn’t want to disrupt the party atmosphere as the group all celebrate the announcement of heritage listing of their street trees.
Some days later Ali emails Sara to tell her to deposit the joining fee, share the good news that the circle has secured an exciting short-term investment, and that she needs to deposit $250,000 into the circle account by the end of the week. Sara immediately makes both payments as a single deposit to Ali’s Labrador Legal account. A few weeks later Ali emails Sara to say that her investment has been really good and that he’s rolled over the $290,000 into another investment. Ali is clearly excited and signs off the email “And here’s the next step to your first circle million”.
A couple of months later Sara reads in the local newspaper that there’s been another finance scandal on the Gold Coast with investors being ripped off by a lawyer called Ali using client money to fund the purchase of a multimillion-dollar mansion on Sovereign Island on the Gold Coast and cryptocurrency coins.

Advise Sara what kind of equitable arguments she might make and what kind of remedies she might seek?

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