The appellant sued the respondent bank for breach of contract and negligence after his cousins fraudulently withdrew over $1 million from his account.
The trial judge dismissed the action, finding the appellant was bound by a Financial Services Agreement (FSA) that released the bank from liability if errors were not reported within 30 days.
On appeal, the appellant argued the trial judge provided insufficient reasons and misconstrued the FSA.
The Court of Appeal dismissed the appeal, holding that the verification agreement constituted a complete defence and the appellant failed to exercise reasonable care.
The respondent's cross-appeal on costs was allowed, directing the appellant to pay the trial costs.
