MGMT 3100 Chapter Notes - Chapter 5: Financial Statement, Positio, Special Relationship
24 Feb 2017
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Chapter 5 professional liability: the legal challenges. Contractual duties: duty to comply with contract from both parties, remedy: damages. Tort duties: duty not to be negligent, remedy: damages. You cannot sue your council in both contract and tort law at the same time. Third-party liability: liability to some other person who stands outside a contractual relationship. One doctor (1) gives a professional opinion to another doctor (2) concerning the second do(cid:272)to(cid:396)"s (2) patient. In addition to liability in contract and tort, professionals may also be liable for breach of their fiduciary duty of care. A fiduciary duty exists in relationships in which the following three characteristics are present: The professional has scope for the exercise of some discretion or power; The professional can exercise the power in such a way as to affect the other person; and. The other person is in a vulnerable position.
