Keyword Analysis & Research: duty of care definition

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What does "duty of care" really mean?

Duty of care is a fiduciary responsibility held by company directors which requires them to live up to a certain standard of care. The duty requires them to make decisions in good faith and in a reasonably prudent manner. The duty of care also applies to other roles within the financial industry including accountants, auditors, and manufacturers.

What are some examples of duty of care?

Duty of Care meaning in law. A duty of care is the legal responsibility of a person or organization to avoid any behaviors or omissions that could reasonably be foreseen to cause harm to others. For example, a duty of care is owed by an accountant in correctly preparing a customer’s tax returns, to minimize the chance of an IRS audit.

What does the legal term 'duty of care' mean?

What Does Duty of Care Mean? Duty of care is a legal concept stemming from the tort of negligence. It states that every person has a duty to make sure that their actions, or lack thereof, do not cause harm to other people. Duty of care is a critical component of an employer's occupational health and safety obligations toward their employees.

What is the primary duty of care?

The primary duty of care means that a business has the primary responsibility for the health and safety of workers and others influenced by its work. All businesses must ensure, so far as is reasonably practicable, the health and safety of: its workers. any other workers who are influenced or directed by the business.

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