Indeterminate liability: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "“If liability for {{tag|negligence}} exists, a thoughtless slip or blunder, the failure to detect a theft or forgery beneath the cover of deceptive entries, may expose accou..." |
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“If liability for | “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 [[indeterminate liability|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 {{casenote|Ultramares|Touche}}. | :- the immortal words of [[Cardozo J]] in the great case of {{casenote|Ultramares|Touche}}. | ||
Latest revision as of 13:30, 14 August 2024
“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.