Edward D. Jones & Co. v. Fletcher

The principal question in this case is whether a stockbroker has a legal duty to ascertain an elderly person’s mental capacity before assisting her in transferring stock. Because the law already affords protection to incompetents through guardianships and by making their agreements voidable, we decline to create a duty to refrain from dealing with an elderly person without first determining the person’s mental competence. Consequently, we reverse the judgment of the court of appeals, — S.W.2d - (per curiam), and render judgment for defendants.

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Carlton Anness asked Delmar “Bo” McKinney, a…