Court revises opinion on fiduciary duties.In a case reported in the March Legal Scene (page 21), a Texas 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. revised its ruling that the statute of limitations A type of federal or state law that restricts the time within which legal proceedings may be brought. Statutes of limitations, which date back to early Roman Law, are a fundamental part of European and U.S. law. stopped running when a fiduciary relationship exists between 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. and client. While the court earlier ruled there is a fiduciary relationship between a CPA and client, its revised ruling said there can be a fiduciary relationship. Although the change is subtle, it's significant the court will not assume a fiduciary relationship exists between a CPA and a client; rather, the court will look at the facts of the case to determine if there is, indeed, a fiduciary relationship. (Woodbine woodbine, name for several vines, among them honeysuckle and Virginia creeper. woodbine Any of many species of vines belonging to various flowering-plant families, especially the Virginia creeper (Parthenocissus quinquefolia, family Vitaceae) of Electric Service, Inc. v. William E. McReynolds, 11th Circuit Court of Appeals, no. 11-91-230-CV, issued July 16, 1992, revised August 27, 1992) |
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