Professionals Should Plan to Avoid Lawsuits

The law as applied to liability is changing rapidly and varies considerably from one jurisdiction to another. Professionals in various fields have seen the principle of caveat emptor dismantled by the courts. Professionals in all fields are being held responsible for higher standards of accountabili...

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Bibliographic Details
Published in:Business (Atlanta) 1990-04, Vol.40 (2), p.59
Main Authors: Edmonds, Charles P, Tole, Tom
Format: Article
Language:English
Subjects:
Avoidance
Guidelines
Investment advisors
Litigation
Professional liability
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Summary:The law as applied to liability is changing rapidly and varies considerably from one jurisdiction to another. Professionals in various fields have seen the principle of caveat emptor dismantled by the courts. Professionals in all fields are being held responsible for higher standards of accountability. Tort, warranty, and contract law is being strictly applied to transactions in various fields. To avoid the problems and the expense of lawsuits, professionals in the securities and investment industry should implement a solid lawsuit prevention plan. Categories of company policies that can make a firm more impervious to lawsuits include: 1. open client contact, 2. staff awareness of required office procedures, 3. education of staff members, and 4. client complaint processing.
ISSN:0163-531X