Can an action be brought against an attorney for negligence in the collection of a note and mortgage?

In Lally v. Kuster (1918) 177 Cal. 783, 171 P. 961, an action by a client against her attorney for negligence in the collection of a note and mortgage, the attorney contended that the client could not claim that she had suffered a loss unless first she brought suit upon the note and mortgage and the suit was dismissed because of the statute of limitations. The court in reversing a judgment of the lower court in favor of the attorney stated, '* * * it does not follow that the appellant would have to wait until it was finally determined in court that these rights were valueless * * *.' (P. 791, 171 p. 964.)