Definition of due diligence in English:
1Reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something.
- If trading is carried on, however, there is a duty to manage with due diligence in doing so.
- He is required to perform due diligence; that is, to make inquiry and thereafter decide the outcome.
- The question, therefore, is not one of seller liability but of due diligence on the part of the buyer.
1.1A comprehensive appraisal of a business undertaken by a prospective buyer, especially to establish its assets and liabilities and evaluate its commercial potential.
- Sources anticipate a very competitive bidding war with no surprises understood to have emerged in the due diligence procedure or site visits.
- They would have been aware of further misconduct had they exercised due diligence in their supervision.
- The research analyst could be performing internal due diligence.
Definition of due diligence in:
- British & World English dictionary