Expanding Third Party Liability for Accountants; Finding a Middle Ground: Blue Bell v. Peat, Marwick, Mitchell & Co., 715 S.W.2d 408 (Tex. App.—Dallas 1986, writ ref'd n.r.e.)
Elliott, James J.
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Examines the case of Blue Bell v. Peat, Marwick, Mitchell & Co., in which the Dallas appellate court applied liability where an accountant should have foreseen third party reliance on materials prepared by the firm. This was the first Texas case to expand accountant liability to third parties in seventeen years, and the author advises professionals in every field to reassess their performance and professional obligations in light of this ruling.