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Due diligence can be a legal obligation, but the term more commonly applies to voluntary investigations. It may also offer a defence against legal action. A common example of due diligence is the process through which a potential acquirer evaluates a target company or its assets in advance of a merger or acquisition. [1]
Due diligence is the amount of diligence required to avoid negligence in professional activities. It commonly arises in major acquisitions where the legal principle of caveat emptor ("let the buyer beware") requires the purchaser to make diligent inquiries about the property or service being sold. [14]
In common-law legal systems, laches (/ ˈ l æ tʃ ɪ z / LAT-chiz / ˈ l eɪ tʃ ɪ z /; Law French: remissness, dilatoriness, from Old French laschesse) is a lack of diligence and activity in making a legal claim, or moving forward with legal enforcement of a right, particularly in regard to equity. It is an unreasonable delay that can be ...
Fraudulent concealment is a common law doctrine that may be invoked to toll a statute of limitations.Under this doctrine, if a defendant has concealed his misconduct, then the limitations period shall start from the point when the plaintiff discovers his claim, or should have discovered it with due diligence. [1]
Diligence is a term in Scots Law with no single definition, but is commonly used to describe debt collection and debt recovery proceedings against a debtor by a creditor in Scottish courts. [1] The law of diligence is part of the law of actions in Scots private law . [ 2 ]
(Civil law) bonus paterfamilias: a standard of care equivalent to the common law ordinary reasonable man. Other degrees of care are: diligens paterfamilias - higher standard of care, greater diligence; diligentissimus paterfamilias - highest standard of care, utmost diligence. penitus extraneus: outside penitent
Gross negligence is the "lack of slight diligence or care" or "a conscious, voluntary act or omission in reckless disregard of a legal duty and of the consequences to another party." [ 1 ] In some jurisdictions a person injured as a result of gross negligence may be able to recover punitive damages from the person who caused the injury or loss.
Equitable tolling applies in criminal and civil proceedings, including in removal proceedings under the Immigration and Nationality Act (INA). [2] Equitable tolling is a common principle of law stating that a statute of limitations shall not bar a claim in cases where the plaintiff, despite use of due diligence, could not or did not discover the injury until after the expiration of the ...