Editor’s Note: These answers to the essay questions on the July 2009 bar examination were drawn from passing candidates who earned very high scores on the essays selected. They have been transcribed as submitted by the candidate and may contain misspellings, grammatical errors, misstatements of law or fact and erroneous conclusions. They are not to be construed as model answers, nor are they in any respect the work of the Board of Bar Examiners.

QUESTION NO. 1 — TORTS

Joe, a former Wall Street investment banker, recently opened his own financial planning firm. He was licensed to sell securities, but this license lapsed due to his failure to pay the renewal fee. State law requires that all persons who sell publicly traded securities be licensed.