North Dakota Real Estate Continuing Education - NORTH DAKOTA Provider: RealEstateCE.com
ND 3.0 hours Risk Awareness - Course Syllabus
3.0 Elective Hours
In the concept of professional risk management, there are two key terms to understand reasonable care and due diligence.
Reasonable care for one who claims to be a professional can be expressed as given a particular set of circumstances and facts, did the professional exercise the degree of care a person with the professional's expertise reasonably would take if they were in the situation and acting in their own best interests? In a civil case, there needs to be a reliance on the information by the plaintiff and there needs to be damage or injury.
Due diligence is closely related to negligence. Due diligence is what would a reasonable and prudent person do. This reasonable person rule is found throughout the law. What would a reasonable person, acting prudently, do under a particular set of circumstances which are highly, factually dependent? It depends on the facts of the case and generally, there is no absolute standard. This ambiguity is one reason that a lot of people don't understand how or why they're accused of making negligent misrepresentations. That is also why risk management techniques really work in these situations.
The goal of this course is to provide you with a good idea of where your risk lies so that you can have a better understanding of how to manage risk.