Essay On Duty Of Care

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Obligation
First we look at the meaning of Obligation. According to oxford dictionary, obligation is an action or sequence of actions to which a person is morally or legally bound [1].
In law domain, the law of obligation is one branch of private law, under the civil law legal system. According to law of obligation, obligation is referred to specific rights and duties and it deals with individuals’ creations, effects, and extinction. An obligation is a legal bond by which one or more parties are bound to act or refrain from acting. Therefore , the obligation imposed on the debtor 's obligation to perform, and at the same time creates a corresponding right to demand performance forces whom performance will be tendered.
But in financial
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Duty of care
In tort law, a duty of care is a legal obligation. And the obligation defined as it impose on an individual requiring adherence to a standard of reasonable care while performing any acts that could foreseeably harm others.
As well, in business domain, The Duty of care is the legal obligation or the responsibility of a person or organization to avoid actions or omissions to be likely to cause harm to others.
According to the law the Duty of care is mentioned as “a requirement that a person act toward others and the public with watchfulness, attention, caution and prudence that a reasonable person in the circumstances would. If a person's actions do not meet this standard of care, then the acts are considered negligent, and any damages resulting may be claimed in a lawsuit for negligence.”[1]
Simply duty of care is not doing something that would be harmful to their clients, by professionals.

Liability
The liability is simply the state of being legally responsible for something. In the field of law, liability means legal responsibility for one's acts or omissions. [3] Then, liability is the responsibility to pay compensation when something went wrong because of

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