[DOWNLOAD] "Rhode Island Hospital Trust National Bank v. Swartz" by United States Court of Appeals for the Fourth Circuit " eBook PDF Kindle ePub Free

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eBook details

• Title: Rhode Island Hospital Trust National Bank v. Swartz
• Author : United States Court of Appeals for the Fourth Circuit
• Release Date : January 04, 1972
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 72 KB

Description

Rhode Island Hospital Trust National Bank ("Bank") sued Swartz, Bresenoff, Yavner & Jacobs, a firm of certified public accountants ("Accountants"), each of the partners of the firm and the estate of a deceased partner, alleging, inter alia, that Accountants had negligently audited the financial statements of International Trading Corporation and related companies ("Borrower") in consequence of which Bank had made loans to Borrower which was unable to repay them and Bank sustained a loss in excess of $100,000.00. The district court, sitting nonjury, concluded that the evidence failed to establish "fraud or collusion on the part of Accountants, any lack of good faith, misrepresentation, breach of duty, negligence, or failure to use reasonable care in the preparation and issuance of the financial statements," and it dismissed the complaint. We disagree with the district courts conclusions with regard to negligence. We, therefore, reverse and remand for further proceedings.

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