Due Diligence

Due diligence is a standard of vigilance, attentiveness, and care that is often exercised in various professional and societal settings. The effort is measured by the circumstances under which it is applied, with the [Page 624]expectation that it will be conducted with a level of reasonableness and prudence appropriate for the particular circumstances. Due diligence is generally expected in any interaction when one party owes a duty of care to the other party, although it is most often associated with professionals and businesses. For example, a patient expects his or her doctor to exercise due diligence when prescribing medications to ensure there are no allergic reactions or harmful interactions with other medications the patient may be taking. Professionals such as lawyers, psychologists, and consultants must ...