Legal Opinion
Bily v. Arthur Young & Co.
California Supreme Court
Decided August 27, 1992No. S017199PublishedCited by 320 opinions
1Opinion of the Court
Opinion
LUCAS, C. J.
We granted review to consider whether and to what extent an accountant’s duty of care in the preparation of an independent audit of a client’s financial statements extends to persons other than the client.
Since Chief Judge Cardozo’s seminal opinion in Ultramares Corp. v. Touche (1931) 255 N.Y. 170 [174 N.E. 441, 74 A.L.R. 1139] (Ultramares), *376the issue before us has been frequently considered and debated by courts and commentators. Different schools of thought have emerged. At the center of the controversy are difficult questions concerning the role of the accounting…
2Cases cited59 opinions
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- Blue Chip Stamps v. Manor Drug StoresSupreme Court of the United States · 1975
- Herman & MacLean v. HuddlestonSupreme Court of the United States · 1983
- Dillon v. LeggCalifornia Supreme Court · 1968
- Ultramares Corp. v. ToucheNew York Court of Appeals · 1931
54 more not listed; retrieve them via the Exa API.
3Cited by320 opinions
- In Re Burlington Coat Factory Securities Litigation. P. Gregory Buchanan, Jacob Turner and Ronald AbramoffCourt of Appeals for the Third Circuit · 1997
- Ernst & Young, L.L.P. v. Pacific Mutual Life Insurance Co.Texas Supreme Court · 2001
- Quelimane Co. v. Stewart Title Guaranty Co.California Supreme Court · 1998
- Charles Schwab Corp. v. Bank of America Corp.Court of Appeals for the Second Circuit · 2018
- Paulsen v. CNF INC.Court of Appeals for the Ninth Circuit · 2009
315 more not listed; retrieve them via the Exa API.