LEGL1001 – Business law Individual IRAC Task Trimester- InvestorPlus Software is a new and innovative computer program, Singapore

QUESTION:

Joe has worked as a plumber for 45 years. He is about to retire and is looking at some options to invest his savings to give a good return on the money he invests. One day last year, Joe was reading a business magazine while he was waiting at his doctor’s surgery. In the magazine, he read an advertisement that was selling

‘InvestorPlus’ software. The advertisement read:
InvestorPlus Software is a new and innovative computer program. It acts as your own personal stockbroker and helps any novice be a successful investor on the stock market. If you purchase InvestorPlus and trade on the stock market according to its directions for six months, we guarantee that you will make a 30% profit on your investment. If this does not happen, we will refund the purchase price and pay you $5000.00.”

Joe purchased the InvestorPlus software, installed it on his computer and used it according to directions. At the end of 6 months, however, Joe had actually lost 20% of the value of his savings he had invested using InvestorPlus. He was furious that he had lost so much money. Joe requested a refund and the $5,000 compensation from the makers of InvestorPlus, but they refused and said that they had placed an advertisement in the same magazine last month cancelling all previous offers. Joe wants to know if he has any legal rights.