Jim, an Accountant, Is Asked to Prepare a Statement by Clark

Multiple Choice

Jim, an accountant, is asked to prepare a statement by Clark. This statement provides details about property owned by Clark. Jim is aware that Clark intends to use this statement to obtain a loan from a bank. Which of the following statements is true of this scenario?

A) In the states that follow the Ultramares Doctrine, the bank cannot sue Jim for malpractice.
B) The bank can sue Jim for malpractice in all the states in the United States.
C) The Ultramares Doctrine allows the bank to sue Jim for malpractice.
D) The bank cannot sue Clark because a contractual relationship exists between Jim and the bank.