Tag archive: law
On the Hook Without a Word: Title Agent May Create Attorney-Client Relationship Between Lender and Attorney Retained by Title Agent
Summary: A Florida appellate court recently held a title agent’s consultation with an attorney to prepare a note and mortgage may have created an attorney-client relationship between a lender and the attorney, despite no direct communications between the lender and attorney. Additionally, the creation of such relationship may have triggered a duty by the attorney…
The Benefits of Limitation of Liability Clauses
Summary: Limitation of liability clauses are not favored in the eyes of the law, but they are often upheld by the courts. To be effective, it is important the clause be reasonable and specific. An enforceable limitation of liability clause may drastically limit the potential liability of the professional. Professionals use contracts on a regular…
Don’t Let a Subpoena Take You by Surprise
Summary: This article will discuss how a professional, especially an accountant, should respond when receiving a subpoena to produce documents and/or appear for a deposition. Many professionals, especially those in the accounting field, have received a subpoena to produce documents and/or appear for a deposition in a lawsuit. It is critical the professional takes steps…
Maintaining Professionalism in the Legal Industry
Summary: This article reviews the importance of attorneys maintaining professionalism in all legal proceedings. The article reviews a recent Florida case resulting in disbarment of an attorney after alleged disruptive acts during trial and a post-trial hearing. It goes without saying that as professionals, attorneys are obligated to maintain professionalism at all times and to…
Missouri Recently Adopted More Licensure Rules For Electricians?! Why?!
For most electricians, the thought of having to get yet another license is a nightmare. Now don’t freak out, but Missouri’s legislature has created one more license for electricians. This new license, however, may not be the nightmare you expect. In fact, many are calling this new license the relief Missouri has desperately needed. Up…
A Professional’s Quick Guide to Professional Liability Insurance – Part 2 of 2
In our first segment, we discussed the basic coverage provisions of a professional liability insurance policy and the concept of wasting policy limits. In this second segment, we will talk about exclusions commonly found in a professional liability insurance policy. Common Exclusions: Bodily Injury and Property Damage: Except for certain professionals such as medical providers…
A Professional’s Quick Guide to Professional Liability Insurance – Part 1 of 2
Professional liability insurance, often presented in the form of an “errors and omissions” policy, is a form of liability insurance providing coverage for claims made as a result of professional advice or services. Professionals including attorneys, accountants, engineers, architects, insurance brokers/agents, and real estate brokers/agents should maintain professional liability insurance to protect their businesses and…
Whose Duty is it to Exercise Ordinary Care Anyway? Yours, if You Hold a License to Sell Insurance in Illinois
There’s a case from 2015 that’s worth looking at again for insurance agents in Illinois. This was the one where the Illinois Supreme Court decided that a person who has to be licensed to sell insurance in Illinois has a duty to “exercise ordinary care and skill” in renewing, procuring, binding, or placing coverage. The…
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. Nicholson v. Shapiro & Associates, LLC Can the accounting firm successfully assert the in pari delicto (“in equal fault”) defense, which blocks a wrongdoer-plaintiff from…
Advertisement of Services Is Not “Rendering” of Services, Says the Illinois Appellate Court
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? According to the Illinois Appellate Court in Margulis v. BCS…