loss) * Contributory negligence (clients were partially responsible for loss) Client: auditor works for. privity exists. Primary Beneficiaries: known and named third parties ... privity in contract means a party a contract (client), but the law treats primary beneficiaries as having this privity to contract, so they are generally treated the same as the client Foreseen Beneficiary: known, but unnamed third parties (banks, for example) Foreseeable Third Parties: Unknown, unnamed third party (stockholders…
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