Template:Cardozo indeterminacy: Difference between revisions
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The great American jurist Cardozo J, held<ref>[[Ultramares v Touche - Case Note|Ultramares v Touche]]</ref> that a [[creditor]]’s claim in {{tag|negligence}} against a [[debtor]]’s admittedly [[negligent]] [[Audited financial statements|auditor]]s failed because the auditors did not owe the company’s creditors a [[duty of care]], there being no sufficiently [[proximity|proximate]] relationship between them. | The great American jurist Cardozo J, held<ref>[[Ultramares v Touche - Case Note|Ultramares v Touche]]</ref> that a [[creditor]]’s claim in {{tag|negligence}} against a [[debtor]]’s admittedly [[negligent]] [[Audited financial statements|auditor]]s failed because the auditors did not owe the company’s creditors a [[duty of care]], there being no sufficiently [[proximity|proximate]] relationship between them. | ||
Said Cardozo J, in an immortal passage that gave rise to the metajuridical concept of [[ | Said Cardozo J, in an immortal passage that gave rise to the metajuridical concept of “[[Cardozo indeterminacy]]”: | ||
{{quote|“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.”}} | {{quote|“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.”}} | ||
Revision as of 22:02, 27 September 2021
The great American jurist Cardozo J, held[1] that a creditor’s claim in negligence against a debtor’s admittedly negligent auditors failed because the auditors did not owe the company’s creditors a duty of care, there being no sufficiently proximate relationship between them.
Said Cardozo J, in an immortal passage that gave rise to the metajuridical concept of “Cardozo indeterminacy”:
“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.”