We explore and analyze current issues and relevant topics to help accountants, attorneys, architects and engineers, insurance agents and real estate brokers avoid a professional liability case.
Illinois Supreme Court Holds Two Year Legal Malpractice Statute of Limitations Does Not Run Until Alleged Negligent Transactional Advice Results in Adverse Judgment Against the Client
Edson v. Fogarty - Broker Can Be Liable to Purchaser for Misrepresentation of Fact, Regardless of Reliance, Where Purchaser Could Not Have Discovered Misrepresentation on Its Own
This article discusses a decision by the 1st District of the Illinois Court of Appeals clarifying the law on when a broker can be liable for negligent misrepresentations during the sale of property and held a broker liable for misrepresentations made about the zoning of property.
In Pari Delicto (“In Equal Fault”), or Not? Accounting Firm’s Assertion of Client’s Wrongdoing Not a Defense to Malpractice Claim
An accounting firm does auditing work for a public company. The sole shareholder and president of the public company commits fraud, but the accounting firm allegedly should have caught it.
What does it mean to “render” services if (1) you are an insurance agent or brokerage conducting your day-to-day business operations; and (2) you have purchased a professional liability policy to cover errors or omissions you make (or are accused of making) in your business?