Everett Langley set up a brokerage account with Accounts Traders in the name of his son Graham Langley. Mr. Langley deposited $20,000 in the account where it accrued interest annually in the amount of $500.00. Approximately fi ve years later, Mr. Langley closed the account and transferred the money to another account. Graham never knew about the brokerage account. Needing Graham to complete some tax forms, Mr. Langley mailed the tax forms to his son. Seeing that the account now had nearly $25,000 in it, Graham decided to sue Accounts Traders and his father for the proceeds from the account. Does Graham have a valid claim against Accounts Traders or his father? Discuss all issues.
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