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Lawyers ''like'' to vacillate. That is why they turn up. Any opportunity to to blur the edges of old white line is an opportunity to extemporise on a client dine whilst taking little or no risk and whilst subjecting oneself to little or no criticism. | Lawyers ''like'' to vacillate. That is why they turn up. Any opportunity to to blur the edges of old white line is an opportunity to extemporise on a client dine whilst taking little or no risk and whilst subjecting oneself to little or no criticism. | ||
There is an art, therefore, of casually injecting just enough peripheral doubt into matters that — just to be on the safe side — a cautious client will acquiesce with her | There is an art, therefore, of casually injecting just enough peripheral doubt into matters that — just to be on the safe side — a cautious client will acquiesce with her counsel’s suggestion of some ''extra work''. | ||
What sort of in-house counsel would gainsay her own adviser? That strikes against the heart of the relationship. Who would reject legal advice to take a bit more precaution? Who ever got fired for hiring IBM? | |||
So, for example, we are told that institutional big boy letters should be effective at disclaiming liability for prospectuses at least when selling too sophisticated institutional clients. | So, for example, we are told that institutional big boy letters should be effective at disclaiming liability for prospectuses at least when selling too sophisticated institutional clients. | ||
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[[Bright line test]] | [[Bright line test]] | ||
*[[Big-boy letter]] | *[[Big-boy letter]] | ||
[[Inclined]] to be [[supportive]] | *[[Inclined]] to be [[supportive]] |