Having great diligence involves putting in a significant amount of effort and being extremely careful when completing a task. This is similar to working diligently on a project and ensuring that everything is executed flawlessly. It is crucial to exhibit great diligence when managing valuable assets or striving to fulfil legal obligations.
Great diligence refers to the exceptional level of care and effort exerted by a highly cautious individual in managing their possessions or completing a task. For instance, if someone is entrusted with a valuable artwork, they must exercise great diligence to safeguard and preserve it. This entails taking all necessary precautions to prevent any harm or theft, including storing it in a secure location and handling it with utmost care. Essentially, great diligence surpasses the actions of an average person and is typically required in situations where there is a significant risk of damage or loss, such as dealing with valuable assets or crucial responsibilities. By practicing great diligence, individuals can minimize the likelihood of negative outcomes and fulfil their obligations to the best of their abilities.
Great diligence refers to the level of care and attention that a person or entity is expected to exercise in a particular situation. It often involves taking all necessary steps to prevent harm or loss to others.
Great diligence is often determined based on the specific circumstances of the case, including industry standards, regulations, and the reasonable expectations of the parties involved.
Failing to exercise great diligence can result in legal liability, such as being held responsible for damages or losses caused by negligence or a breach of duty.
Yes, a contract can include provisions that require one or both parties to exercise great diligence in performing their obligations. These provisions can help clarify the standard of care expected in the agreement.
Demonstrating great diligence often involves keeping thorough records, following industry best practices, seeking expert advice when necessary, and taking proactive measures to prevent harm or loss.
Great diligence is often similar to the concept of reasonable care, which requires individuals to act as a reasonably prudent person would in similar circumstances. However, great diligence may require a higher level of care in certain situations.
Yes, a person or entity accused of negligence or breach of duty may argue that they exercised great diligence in the situation, which could help defend against liability.
Certain industries, such as healthcare, finance, and transportation, often require a high level of diligence due to the potential risks and consequences associated with their activities.
In some cases, parties to a contract may agree to waive the requirement of great diligence, but this should be clearly stated in the contract and may not be enforceable in certain situations.
A lawyer can provide guidance on legal requirements, help draft contracts with clear diligence provisions, and advise on best practices to minimize legal risks and liabilities.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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