Class Notes (838,398)
Canada (510,881)
MGSC30H3 (54)
J.Rybak (11)

Chapter 6 Professional Negligence and Negligent Misrepresentation.docx

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Management (MGS)

Chapter 6 The Professional  Professional: a person with special skills not possessed by most individuals o the possession of these skills distinguish the professional from other business persons or service providers in the sense that the person who engages the services of the professional will normally rely on the professional’s expertise to perform services that they cannot or do not wish to perform themselves Professional Standards and Professional Associations  Professional standards include the oversight of training and education of potential members to ensure that they meet a competence level to practice the profession, to ensure that competence levels are maintained, and to discipline members who fail to maintain the standards of competence or the standards of the association. The Professional-Client Relationship Contract  The professional person agrees to perform certain specified services for the client in return for a fee.  A professional under contract impliedly promises to perform the services, and failure to do so would constitute a breach of contract  Client may be able to hold the professional liable for any foreseeable loss that client suffered as a result of the professional’s breach of the contract  Breach of contract are a result of careless or negligent performance, or even if professional enters a contract and doesn’t perform the service Fiduciary Duty of Care  Fiduciary Duty: a duty to place a client’s interest above the professional’s own interests o Avoid any conflict of interest with those of the client o May arise where a professional agrees to perform a service without a fee  The professional must also ensure that his or her role or interest in the transaction is fully explained and brought to the attention of both parties Tort Duty of Care  The person who claims to be a professional must maintain the standard of proficiency or exercise the degree of care in the conduct of his or her duties that the profes
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