diligence


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Diligence

Vigilant activity; attentiveness; or care, of which there are infinite shades, from the slightest momentary thought to the most vigilant anxiety. Attentive and persistent in doing a thing; steadily applied; active; sedulous; laborious; unremitting; untiring. The attention and care required of a person in a given situation; the opposite of Negligence.

There may be a high degree of diligence, a common degree of diligence, and a slight degree of diligence, with their corresponding degrees of negligence. Common or ordinary diligence is that degree of diligence which persons generally exercise in respect to their own concerns; high or great diligence is, of course, extraordinary diligence, or that which very prudent persons take of their own concerns; and low or slight diligence is that which persons of less than common prudence, or indeed of any prudence at all, take of their own concerns.

Special diligence is the skill that a good businessperson exercises in his or her specialty. It is more highly regarded than ordinary diligence or the diligence of a nonspecialist in a given set of circumstances.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

diligence

n. reasonable care or attention to a matter, which is good enough to avoid a claim of negligence, or is a fair attempt (as in due diligence in a process server's attempt to locate someone).

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

diligence

1 the degree of care required in a given situation. Often encountered in the phrase due diligence which denotes a defence to many statutory crimes and which also denotes the process by which a purchaser of or an investor in a company investigates the target. To this end accountants, solicitors and other professionals may need to be instructed.
2 in Scotland, the body of law relating to the enforcement of obligations.
Collins Dictionary of Law © W.J. Stewart, 2006

DILIGENCE, contracts. The doing things in proper time.
     2. It may be divided into three degrees, namely: ordinary diligence, extraordinary diligence, and slight diligence. It is the reverse of negligence. (q.v.) Under that article is shown what degree of negligence, or want of diligence, will make a party to a contract responsible to the other. Vide Story, Bailm. Index h.t.; Ayl. Pand. 113 1 Miles, Rep. 40.

DILIGENCE. In Scotland, there are certain forms of law, whereby a creditor endeavors to make good his payment, either by affecting the person of his debtor, or by securing the subjects belonging to him from alienation, or by carrying the property of these subjects to himself. They are either real or personal.
     2. Real diligence is that which is proper to heritable or real rights,. and of this kind there are two sorts: 1. Inhibitions. 2. Adjudication, which the law has substituted in the place of apprising.
     3. Personal diligence is that by which the person of the debtor may be secured, or his personal estate affected. Ersk. Pr. L. Scotl. B. 2, t. 11, s. 1.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Overall, due diligence for medical devices falls in the middle of this spectrum and has evolved in recent years, driven in part by consolidation among larger medtech companies, a lackluster IPO market, and a dwindling number of buyers.
There are several types of due diligence processes carried out in an acquisition scenario (depending on the size of the transaction) and these are:
The extent of due diligence will vary depending on whether assets or shares are being purchased.
"GM Korea wants the due diligence to be completed within one or two months," said an official.
Management books define due diligence as "investigation by or on behalf of an intended buyer of a product or service to check that the seller has the desired assets, turnover, profits, market share positions, technology, customer franchise, patents and brand rights, contracts and other attributes required by the buyer or claimed by the seller."
Pangilinan said the infrastructure conglomerate is currently undertaking its technical due diligence.
The newly created platform will provide key functions such as product analysis, due diligence and ongoing performance monitoring for the five subsidiaries that comprise Ladenburg's network of independent advisory and brokerage (IAB) firms such as Securities America, Triad Advisors, Investacorp, KMS Financial Services and Securities Service Network.
Castle Hall, the Due Diligence company, has been recognized as the Best Global Operational Due Diligence firm for the fourth consecutive year in the Wealth and Finance International Alternative Investment Awards, the company said.
The extent of the due diligence will depend on a number of factors, including:
"His experience and expertise in performing due diligence on managers is second to none and having him be part of the faculty of the IMDDA is real feather in the organizations cap!"