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EDWARD D. JONES & CO. v. FLETCHER

No. 95-1344.

975 S.W.2d 539 (1998)

EDWARD D. JONES & COMPANY, and Delmar "Bo" McKinney, Petitioners, v. Pat FLETCHER, Independent Executrix of the Estate of Beatrice Clark Cairns, Deceased, Respondent.

Supreme Court of Texas.

Decided May 8, 1998.

Rehearing Overruled October 15, 1998.

Attorney(s) appearing for the Case

David E. Jackson, Shannon H. Ratliff, Marc O. Knisely, D. L. (Lin) Hughes, Karen L. Watkins, Austin, for Petitioners.

Mark M. Humble, Cameron, James V. Sylvester, Aaron L. Jackson, Austin, for Respondent.

HECHT, Justice, delivered the opinion of the Court.

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...

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