Indeterminate liability: Difference between revisions
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Latest revision as of 08:49, 31 May 2017
“If liability for negligence exists, a thoughtless slip or blunder, the failure to detect a theft or forgery beneath the cover of deceptive entries, may expose accountants to a liability in an indeterminate amount for an indeterminate time to an indeterminate class. The hazards of a business conducted on these terms are so extreme as to enkindle doubt whether a flaw may not exist in the implication of a duty that exposes to these consequences.”
- - the immortal words of Cardozo J in the great case of Ultramares v Touche.