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Due Diligence

Due diligence has numerous legal meanings, but in the context of a civil lawsuit, it is a term for the legal duty that one party has to live up to a specific standard of behavior and care. In most cases, the extent of due diligence is outlined explicitly, usually in the form of a written contract. However, there are many cases where due diligence may be implied.

Typically, due diligence is reference alongside a duty of care, although they are distinct legal concepts. The duty of care is the duty that one has to reasonably minimize the risk to others that his actions may carry. Due diligence, however, are the actions that must be taken in order to carry out the duty of care.

This difference can be illustrated in the example of a financial advisor: although all financial investments carry with them some degree of risk, a financial advisor has a duty of care to minimize any unnecessary risks to his or her investors. If he does not, and invests recklessly or for personal gain, and financial damages are suffered, he may be held liable. Certain steps must be taken to ensure that the investments made are legitimate and are representative of their claims; these steps comprise a financial advisor’s due diligence.

If you or a loved one have suffered injuries, whether they are physical, financial, emotional or otherwise, as a result of someone failing to exercise due diligence, contact the Jacksonville personal injury lawyers at Don Guthrie, P.A., at 904-296-1088.

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Jacksonville, FL 32216
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