Consider the following letter from the managing partner of Cooney \& Associates, CPAs, to the legal counsel for their client, The Chartreuse Catfish Restaurant Group, requesting information on potential contingent liabilities:

Describe all the elements of this letter that make it unsatisfactory for its stated purpose.

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June 10, 2007 Ms. Betty Barrister The Firm, LLP 104 Business Row Gainesville, FL 32601 Dear Ms. Barrister: We have nearly completed our audit of the financial statements of our mutual client, The Chartreuse Catfish Restaurant Group, for the fiscal year ending 3/31/07, and we thought we might ask you a few questions about the current status of their legal problems. 1. A customer recently slipped in the bathroom of one of the restaurants and has sued the Group for $50,000. The customer has shown no indications he is willing to settle. Management does not feel they are liable given the risks of the environment in the bathroom. 2. The chain has recently come under attack from some civil rights groups for the costumes its service personnel is forced to wear. For now, they appear to be happy with boycotts and protests and the like, but they have not ruled out a class-action lawsuit on behalf of the "victims." Any help you may give us with proper disclosure of these matters would be appreciated. If we may be of service to you, please don't hesitate to ask. Yours sincerely, H. O'Donnell Cooney, CPA Managing Partner, Cooney & Associates, CPAs, LLP