Due Diligence
Due diligence is the necessary amount of diligence required in a professional activity to avoid being negligent. This commonly arises in major acquisitions where the legal principle of caveat emptor (let the buyer beware) requires the purchaser to make a diligent survey of the property or service.
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Famous quotes containing the words due and/or diligence:
“I have often inquired of myself, what great principle or idea it was that kept this Confederacy so long together. It was not the mere matter of the separation of the colonies from the mother land; but something in that Declaration giving liberty, not alone to the people of this country, but hope to the world for all future time. It was that which gave promise that in due time the weights should be lifted from the shoulders of all men, and that all should have an equal chance.”
—Abraham Lincoln (1809–1865)
“Keep your own secret, and get out other people’s. Keep your own temper, and artfully warm other people’s. Counterwork your rivals with diligence and dexterity, but at the same time with the utmost personal civility to them: and be firm without heat.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)