The legal definition of “omission” is the act of leaving out or failing to do something required by law or duty. This could include failing to perform an action, such as performing the necessary paperwork to start a business or to file taxes. It can also include a failure to provide the requisite notice or disclosures to customers or suppliers. Omission can be seen as a type of nonfeasance, which is a failure to take action.
Modern examples of omissions can be seen in cases of professional negligence or liability. For example, a doctor may be held responsible for leaving out a step in the diagnosis process which could have prevented harm to the patient, or a financial advisor may be liable for an unintentional failure to provide advise or best practices that could have lead to a better outcome for their client.
Consequences of Omission
Failure to comply with legal requirements can result in a number of negative consequences. Depending on the severity of the issue or omission, these can range from a warning or reprimand from the court or relevant licensing authority, to a fine, revocation of license, or criminal charges. Omission can also lead to civil and financial liability-for example, if an omission results in a customer incurring losses from an action or decision made in reliance on inaccurate or incomplete information.
Mitigating Omission
The best way to reduce the risk of legal liability and other negative consequences by omitting an action is to become thoroughly familiar with all relevant laws and regulations, and to follow them consistently and accurately. Regular review and internal audits should also be performed to identify any potential or existing oversights. Any areas of concern or worry should be addressed immediately with legal counsel.