This case concerned whether a stockbroker has a duty to ascertain an elderly client's mental capacity. The court held no and stated that even though there was evidence of incapacity at the time of the stock purchase, the jury was not asked whether the purchaser lacked capacity. Therefore, the stockbroker could not be held liable for facilitating the purchase.

Unlike minors, the elderly are not presumptively incompetent, nor, we believe, should they be. Legitimate policy shields minors from the consequences of their agreements solely on account of age without regard to competence; there is no similar policy to shield the elderly merely on account of age.