20:38
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LSDefine
Simple English definitions for legal terms
reasonable diligence
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A quick definition of reasonable diligence:
Reasonable diligence is the effort and care that a person is expected to put in to accomplish something or fulfill an obligation. It means being careful and cautious in a given situation, and doing what an average person of prudence would do in similar circumstances. For example, when buying a property or a security, a person is expected to conduct a reasonable diligence investigation to ensure that they are making a good investment. Failure to exercise reasonable diligence may result in liability.
A more thorough explanation:
Definition: Reasonable diligence is the level of care and effort that a person of ordinary prudence would take in a given situation. It is the diligence that is expected from someone who seeks to satisfy a legal requirement or discharge an obligation.
Example: If you are a student and have an assignment due, reasonable diligence would mean that you start working on it well before the deadline, put in the necessary effort, and submit it on time. If you fail to do so, you may be held liable for not exercising reasonable diligence.
Explanation: The example illustrates that reasonable diligence requires a person to take appropriate care and effort to fulfill their obligations. In this case, the obligation is to complete and submit an assignment on time. If a person fails to exercise reasonable diligence, they may face consequences such as a lower grade or even legal liability.