A professional is required to meet the standard of the ordinary skilled man exercising and professing to have the special skill in question1. An error of judgment will not amount to negligence unless it is one that would not have been made by a reasonably competent professional with the standard and type of skill of the defendant, acting with ordinary care2. Where there are differing and well established professional schools of thought on an issue, a professional will not be regarded as negligent in following one rather than another even if the outcome suggests that the wrong choice was
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
When is quantum meruit and quantum valebat relevant?Claims in quantum meruit (value of services) and quantum valebat (value of goods) arise in diverse situations ranging from where contractual terms are silent on issues of payment to where there is no contract at all (Serck v Drake & Scull).General
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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