In Ultramares Corporation v.Touche,the United States Supreme Court held that an accountant cannot be held liable for negligence unless the plaintiff was either in privity of contract or a privity-like relationship with the accountant.

Question

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The statement accurately reflects the holding in Ultramares Corporation v. Touche. The case established the privity doctrine, which limits the scope of an accountant's liability for negligence to those in privity of contract or a relationship that approximates privity.

In Ultramares Corporation V