As Chapter $11$ indicates, Ultramares v$.$ Touche is the most famous case of accountant legal liability to third parties. In this case, Justice Benjamin Cardozo, writing for the highest state court in New York, took a narrow view of which third parties were permissible plaintiffs in civil causes of action against accountants. Concerned that a more liberal rule would subject accountants to a liability of $"$an indeterminate amount, for an indeterminate time, to an indeterminate class," Cardozo held an accountant liable in negligence only to those with whom he or she had privity of contract. This decision is now known as the Ultramares rule, and according to this rule, an accountant will be held liable for negligence only to the client and anyone for whose "primary benefit" the accounting statements were prepared. In your reasoned opinion, is the Ultramares rule sound law? Is it ethical?