Appellate court sustains breach-of-contract action.A New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of appellate court A court having jurisdiction to review decisions of a trial-level or other lower court. An unsuccessful party in a lawsuit must file an appeal with an appellate court in order to have the decision reviewed. ruled that limited partners may file a breach-of-contract action against an accounting firm that prepares tax returns for the partnership. The case expands the liability risk a CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. firm may face. This case began when Price Waterhouse There have been several famous people with the surname Waterhouse:
The trial court and the appellate court held that limited partners (in addition to the general partner, the more usual situation) may bring a breach-of-contract action against the partnership's tax preparers. The court noted that the partners were members of an identifiable class, that the firm was aware that the partners were relying on the firm's work product and that the partners paid the firm directly for its services. The court also said the partners could bring either a negligence negligence, in law, especially tort law, the breach of an obligation (duty) to act with care, or the failure to act as a reasonable and prudent person would under similar circumstances. or a breach-of-contract action. (Ackerman v. Price Waterhouse, 629 N.Y.S.2d 5) |
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