Lack of advice Clause Samples
The "Lack of advice" clause clarifies that a party has not relied on legal, financial, or other professional advice from the other party when entering into the agreement. Typically, this clause states that each party is responsible for seeking its own independent advice and cannot later claim that it was misled or uninformed due to a lack of guidance from the other side. Its core function is to prevent disputes over alleged reliance on advice, thereby allocating responsibility for due diligence and informed decision-making to each party individually.
Lack of advice. You will not receive advice from the salesperson about whether this investment is suitable for you unless the salesperson is registered. The salesperson is the person who meets with, or provides information to, you about making this investment. [Note: The Manager will only accept a subscription from the Subscriber if the salesperson identified in section 5 below is a dealing representative of the Manager or of another registered dealer.] To check whether the salesperson is registered, go to ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇.