Sally prepared financial statements for MegaCorp knowing that the company would be using her statements when applying for a loan at Big Bank.It is discovered she was negligent in preparing the statements,and Big Bank sues her.Sally is liable under the
A)Ultramares doctrine.
B)Foreseeable doctrine.
C)Restatement doctrine.
D)All of these are correct.

Question

Quizplus · Accepted Answer

Sally is liable under the Ultramares doctrine, the Foreseeable doctrine, and the Restatement doctrine because she was negligent in preparing the financial statements and Big Bank relied on those statements when making the loan decision.

Sally Prepared Financial Statements for MegaCorp Knowing That the Company