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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]
Enhanced due diligence [4] is required when initial identity checks have been completed and high-risk factors have been identified for an individual or a business. When these requirements have been met "enhanced" or additional due diligence above and beyond CDD is conducted which identifies the following information: [4] Source of wealth and ...
The due diligence defense is the defense that most auditors raise, even though it is difficult for auditors to prove their innocence. The standing precedent on interpretation of due diligence is Escott v. BarChris Construction Corporation, decided in 1968.
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]
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]
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 ...
This brewing legal battle is the latest in a series of recent controversies the board of the small district of ... “I think it is our due diligence as a board to continue with it,” said board ...
Generally, in a civil case, a continuance sought due to absence of evidence will not be granted unless reasonable diligence has been used to procure it. [89] The question of diligence is a matter of fact, addressed to the sound discretion of the court. [90] In some jurisdictions, the issuance of a subpoena is evidence of due diligence. [91]