WFU Law School
Law & Valuation
5.5.3 Owner's Compensation

5.5.4 Professional Competence

  • Check expert's track record
  • Visit the business
  • Expert immunity

Prior inconsistent statements

In your deposition of the opposing expert witness, it is always helpful to find out when and where they have previously testified, submitted a report, or published an article concerning their valuation methodology. Often, appraisers who are simply trying to create an excessively high or low value will contradict their established historical methodology.

Lack of site inspection or interviews

It is critical that the expert valuing the company visit the premises and interview appropriate management personnel. Failure to do so will provide a fertile ground for cross-examination and impeachment.

Expert immunity

In Sharp v. Miller,121 N.C. App. 616, 468 S.E.2d 799 (1996), the Court held that expert witnesses are absolutely immune from suit for their actions in preparing a report to guide expert testimony in the course of a judicial proceeding, and this immunity from civil suit extends so far as to protect one who allegedly commits perjury.

 
5.5.3 Owner's Compensation

©2003 Professor Alan R. Palmiter

This page was last updated on: August 4, 2003