
Diligence finds the issues. Disclosure Schedules decide who bears them.
Due diligence and Disclosure Schedules are connected, but they are not interchangeable. One is investigative. The other is contractual. Treating them as the same exercise, or leaving the schedules to reflect diligence findings on their own, is where deals create problems they did not need to have.
This is a short preview. The article was written by Outsiders Law and the full text is on their website.