Simple English definitions for legal terms
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Common diligence refers to the level of care and attention that is expected from an individual in a given situation. It can be understood as the standard level of effort and care that a reasonable person would take in similar circumstances. This can include actions such as being attentive, careful, and responsible in carrying out tasks or making decisions. Common diligence is often used in legal contexts to determine whether someone has acted with the appropriate level of care and responsibility.
Definition: Common diligence refers to the level of care and attention that an ordinary, reasonable person would take in a given situation. It is a standard of care that is expected of everyone in their daily lives.
For example, if you are driving a car, common diligence would require you to obey traffic laws, pay attention to the road, and avoid distractions. If you are a business owner, common diligence would require you to provide a safe environment for your employees and customers, and to follow all applicable laws and regulations.
Common diligence is often contrasted with , which refers to a higher level of care and attention that is required in certain situations, such as when making a business deal or conducting a legal investigation.
These examples illustrate how common diligence is a basic standard of care that applies to many different situations in our daily lives. By following this standard, we can help prevent accidents and avoid legal liability.
Definition: Due diligence refers to a higher level of care and attention that is required in certain situations, such as when making a business deal or conducting a legal investigation. It involves conducting a thorough investigation and analysis of all relevant information before making a decision or taking action.
For example, if you are considering investing in a company, due diligence would require you to review its financial statements, business plan, and legal documents to ensure that it is a sound investment. If you are conducting a legal investigation, due diligence would require you to gather all relevant evidence and interview all relevant witnesses.
Due diligence is often required by law or industry standards, and failure to conduct due diligence can result in legal liability or financial loss.