Due Diligence vs Due Care
These concepts bugged me for a while. Even if one understands the concepts, it is particularly challenging to explain how due diligence and due care are related, and how the two are different.
00:00 Meaning of the terms
00:25 Due Diligence is homework, research, commitment
01:23 Due Care is an ongoing effort
01:40 Prudent Man Rule/ Prudent Person Rule
2:42 Simultaneous actions