Due Diligence (Legal)

Definition

When lawyers examine every possible thing that could go wrong and then charge you $50K to tell you they found some problems anyway.

Example Usage

The due diligence found 15 potential legal issues, which our lawyer will litigate for the next five years at $300 per hour.

Source: Business law terminology

Related Terms

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soft cell

A padded jail or prison cell designed to prevent inmates from harming themselves or others during episodes of extreme distress or intoxication. It's essentially a rubber room with less dignity and more bureaucracy. Not to be confused with the 1980s synth-pop band, though both involve confinement and questionable life choices.

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promissory estoppel

A legal doctrine that enforces promises even without a formal contract when someone reasonably relied on that promise to their detriment. It's the law's way of saying 'you can't just back out of a promise that someone quit their job to accept.'

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misdemeanour

A criminal offense that's serious enough to get you in trouble but not quite felony-level career-ruining. Think petty theft, vandalism, or public intoxication rather than grand larceny. In the US, misdemeanants typically serve less than a year in county jail and get to keep their voting rights, unlike their felonious counterparts.

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reconsideration

The legal system's version of "can we talk about this again?" where a party asks the court to take another look at a decision before the appeals process kicks in. It's the judicial do-over that says "I think you might have missed something important," usually accompanied by a stack of paperwork explaining exactly what. Less formal than an appeal but more official than just showing up and saying "pretty please."

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certiorari

A writ from a higher court agreeing to review a lower court's decision, most famously used when the Supreme Court decides your case is interesting enough to warrant their attention. It's the legal equivalent of getting picked from the audience.

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scrivener's error

A drafting or clerical mistake in a document, as opposed to a substantive disagreement. The legal profession's way of admitting someone screwed up the typing without admitting they screwed up the thinking.

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