...Recognizing and Minimizing Tort and Regulatory Risk A tort is an act by a business that results in injury to a person, property, or good name. In most cases the person injured is entitled to compensation (Jennings, 2006). It is in the businesses best interest to be educated on local, state, and federal laws and regulations to reduce regulation and tort liability. A business must protect its assets, earnings, and good name. A company must have a plan in place to reduce and eliminate fines, penalties, and tort liability. The business must have a preventive plan in place to address regulation compliance and tort liability (Dore, 2008). Preventative, detective, and corrective measures The preventive plan should include measures to know and understand regulations and liability torts the business could encounter. Furthermore, the business plan should include steps that will be taken in the event of a government regulation violation or a tort liability. The plan should first identify the possible torts for non-compliance to government laws and regulations. The following are some of the issues the preventive plan should include: The business must identify health risks to employees, consumer, and the general public. The business must take solid steps to ensure the product, or services rendered is not harmful to others. An employee of the business needs to be assigned and responsible to understand the laws and regulations that affect all facets of the business. This person needs...
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...Running Head: Recognizing and Minimizing Tort and Regulatory Risk Plan Recognizing and Minimizing Tort and Regulatory Risk Plan LAW/531 September 29, 2010 Introduction Alumina, Inc. makes aluminum products and has revenues of over $4 Billion Dollars. The company is based in the United States (US) with operations in eight other countries around the world. The US accounts for 70% of Alumina’s market share. Alumina has business interests in automotive components and manufacture packaging materials, bauxite mining, and Alumina refining and smelting. The company falls under the jurisdiction of Region 6 of the Environmental Protection Agency (EPA) (University of Phoenix, 2010). Recognizing and Minimizing Tort and Regulatory Risk Plan Companies and organizations such as Alumina, Inc. have corporate governances that require them to operate their businesses under government rules, regulations and boundaries. The rules and regulations have been authorized and enacted by major legislation, which are enacted by Congress and enforceable by laws. Minimizing the risk of tort liability is the goal of every organization and company. Five years ago Alumina was in violation of environmental discharge norms in a routine EPA compliance evaluation inspection. The EPA ordered a cleaned up and Alumina complied right away. Now, the case of negligence starts. The government places a high level the importance on the preservation of the environment and enforces environmental regulations...
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...Recognizing and Minimizing Tort and Regulatory Risk Plan A business, whether for or not for profit, in this country, is regulated under guidelines known to us as laws. These laws hold business leaders accountable for conducting business in an ethical manner and protect consumers from negligent practices imposed by a business. An example of these laws is Tort Law, which is a law that provides compensation for tortuous acts to an injured party or party’s property through a civil lawsuit (Cheeseman, 2010). Tort, defined as “a wrong”, is categorized by two components: Negligence Torts and Intentional Torts. The issue of a tort violation is a matter of the plaintiff proving his or her case or the defendant establishing a reasonable doubt that dismantles the plaintiff’s case. By using Alumina, Inc. as a point of reference, this paper will address how regulatory risks are identified and how they can be managed though preventive, detective and corrective measures. It will also concentrate on the torts and risks identified in the simulation and develop a plan that recognizes and minimizes the regulatory risks in this week’s simulation as well as those examined throughout the chapters in this week’s readings. Alumina, Inc., a four billion dollar United States based aluminum maker located along the borders of Lake Dira in Erehwon, is a manufacture of packaging materials, automotive components, bauxite mixing, alumina refining and aluminum smelting. It operates in eight countries...
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...Recognizing and Minimizing Tort and Regulatory Risk Plan Damesha N. Horace Law 531/Business Law July 19, 2010 Recognizing and Minimizing Tort and Regulatory Risk Plan A tort is a civil injury designed to provide compensation for injury to a legally protected, tangible or intangible, interest (West’s Business Law, 2004). To reduce litigation and tort liability, businesses should ensure they are educated in local, state, and federal laws, and regulations. To protect its reputation and assets, it is critical that businesses have a plan in place to address tort and regulatory risks. Preventative, Detective, and Corrective Measures A preventative plan should include procedures that make businesses aware of regulations and liability torts they could encounter. The company business plan should also include actions to take in the event of a government regulation violation or tort liability. The plan should identify possible torts for non-compliance to government laws and regulations. Other issues that should be in the plan include health risks to employees, consumers, and the public. Companies should delegate a team of individuals to educate employees. This team should fully understand laws and regulations and also keep management abreast of new issues as they develop in the industry. Common Torts and Risks Negligence, defamation/slander/libel, invasion of privacy, Freedom of Information Act (FOIA), and strict liability are tort liabilities uncovered...
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...Recognizing and Minimizing Tort and Regulatory Risk Plan Environmental Regulation is perhaps the most stringent area of government’s regulation in business. The government imposes great technology investment demands on the industry for regulatory compliance. One single act of irresponsibility can cost businesses greatly or be forced to close (Business Regulation Simulation, 2009). It is important to identify, manage, and correct torts and regulatory risks for Alumina, Inc. so legal issues do not arise in the future. Alumina, Inc. is a $4 billion dollar USA-based industry leader in Aluminum making. They operated in eight countries around the world. The US accounts for seventy percent of its sales. Their business interests are in: automotive components, manufacturer of packaging materials, and aluminum smelting. Alumina falls under jurisdiction of Region 6 of the EPA. A tort is the French word for a “wrong.” The law provides remedies to persons and businesses that are injured by the tortuous actions of others (Cheesman, 2010). Kelly Bates claims Alumina did not comply with the Environmental Protection Agency (EPA) legal limit of producing PHA. The drinking water in Lake Dira was found to be unsafe, which caused leukemia in her 10 year old daughter. The plaintiff has filed a million dollar personal injury lawsuit against Alumina to recover punitive damages (Business Regulation Simulation, 2009). Two of the possible tort violations in this simulation...
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...MARKETING REPORT PLAN- RECOGNIZING and MINIMIZING TORT and REGULATORY RISK PLAN According to several managers tort is a social wound planned to offer return for damage to an officially sheltered, physical or indefinable, notice. In order to decrease legal action and tort accountability, companies must make sure they are well-informed in local, status, and federal laws, and set of laws and in order to defend its status and property, it is dangerous that companies should have a plan in order to deal with such torts and regulatory hazards. In current environment companies have to be forcefully involved in increasing, keeping and sustaining and carrying up on precautionary and remedial action plans that be appropriate in company. In today’s environment work setting are confronted with regulatory hazards, for instance, tort accountability that consists of planned torts, carelessness, and severe accountability. When parties commit intentional acts such as assault and battery or defamation these are the harms that is called intentional tort. On the other hand, negligence “is the non-success to use sensible care, that the action of something which a sensibly well thought-out person would not do or the disappointment to do something which a sensibly foolish person would do under like conditions (Charles P. S, & Sandra L. H, 2003).“However, for the third tort is harsh tasks it is the authorized accountability for compensation, or injury, still if the person establish...
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...,2 Recognizing and Minimizing Tort Paper Jorge A Cuellar University of Phoenix LAW/531 Business Law November 08, 2010 Loi-Natalie Laing, Esq. Recognizing and Minimizing Tort Paper Alumina Inc. is a company that makes aluminum automotive components and manufacturers all packaging materials like bauxite mining, alumina refining, and aluminum smelting. The company uses some chemicals that are necessary for the process and these chemicals contain and produce carcinogen effluents that can affect the environment and the people’s health in certain ways. The company is locating near to a lake and a small town, therefore the environmental regulations are very strictly in order to prevent any type of contamination that could affect the wildlife and the people surrounding the company. It is necessary to implement an operational system that will control and minimize the impact of the company’s waste toward the environment. The purpose of this paper is to recognize and minimize tort and regulatory risk plan for a company such as Alumina Inc. and explain how regulatory risks may be identified and managed through preventive, detective, and corrective measures. This plan has to be implemented according to the process and the technology employs within the company, in order to be efficiently and at the same time comply with the purpose of protecting the environment and meet the governmental regulations. Tort law imposes a duty on persons and businesses agents to prevent intentional...
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...er LAW-531-Week-1-DQs LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-1 LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-2 LAW-531-Week-2-Assignment-Recognizing-and-Minimizing-Tort-and-Regulatory-Risk LAW-531-Week-2-DQs LAW-531-Week-3-Assignment-Recognizing-Contract-Risk-and-Opportunities LAW-531-Week-3-DQs LAW-531-Week-4-Assignment-Legal-Risk-and-Opportunity-in-Employment LAW-531-Week-4-DQs LAW-531-Week-5-DQs LAW-531-Week-5-Risk-Arising-in-Tangible-Property-and-Intellectual-Property LAW-531-Week-6-Assignment-Corporate-Compliance-Plan LAW-531-Week-6-DQs Activity mode aims to provide quality study notes and tutorials to the students of LAW 531 ENTIRE COURSE in order to ace their studies. LAW 531 ENTIRE COURSE To purchase this visit here: http://www.activitymode.com/product/law-531-entire-course/ Contact us at: SUPPORT@ACTIVITYMODE.COM LAW 531 ENTIRE COURSE LAW-531 Final Exam Three Sets LAW-531-Week-1-Assignment-ADR-Clause-for-Learning-Team-Charter LAW-531-Week-1-DQs LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-1 LAW-531-Week-2-Assignment-Business-Regulation-Simulation-VERSION-2 LAW-531-Week-2-Assignment-Recognizing-and-Minimizing-Tort-and-Regulatory-Risk LAW-531-Week-2-DQs LAW-531-Week-3-Assignment-Recognizing-Contract-Risk-and-Opportunities LAW-531-Week-3-DQs LAW-531-Week-4-Assignment-Legal-Risk-and-Opportunity-in-Employment LAW-531-Week-4-DQs LAW-531-Week-5-DQs LAW-531-Week-5-Risk-Arisi...
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...Recognizing and Minimizing Tort and Regulatory Risk Plan Law 531 Charles Cook January 24, 2011 Recognizing and Minimizing Tort and Regulatory Risk Plan For organizations to avoid detrimental situations that can create excessive loss for the business, it is imperative for them to Recognize and minimize the risks associated with torts. According to Henery Cheeseman, 2010, “Tort law imposes a duty on persons and business agents not to intentionally or negligently injure others in society”(Cheeseman, 2010). Developing a clear plan that reduces and eliminates any fines, penalties and tort liabilities will help the success of a business. Cheeseman (2010) states “Tort law imposes a duty on persons and business agents not to intentionally or negligently injure others in society” (Cheeseman. 2010). Plan elements Knowing the four elements of defending against negligence is fundamental to developing a preventative plan against negative effects of a tort. With foresight, a business can plan against the occurrence by superseding or intervening the event. Having knowledgeable team members who can determine whether or not the company is actually responsible for an event is essential. Assuming the risk of potential negligence can help to diminish the possibility of tort. Keeping a business team aware of what risks are possible and can help to avoid situations where a company knowingly enters into risky practices will keep businesses safe from liability. Finally, both contributory...
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...Recognizing and Minimizing Tort and Regulatory Risk A tort is an act by a business that results in injury to a person, property, or good name. In most cases the person injured is entitled to compensation (Jennings, 2006). It is in the businesses best interest to be educated on local, state, and federal laws and regulations to reduce regulation and tort liability. A business must protect its assets, earnings, and good name. A company must have a plan in place to reduce and eliminate fines, penalties, and tort liability. The business must have a preventive plan in place to address regulation compliance and tort liability (Dore, 2008). Preventative, detective, and corrective measures The preventive plan should include measures to know and understand regulations and liability torts the business could encounter. Furthermore, the business plan should include steps that will be taken in the event of a government regulation violation or a tort liability. The plan should first identify the possible torts for non-compliance to government laws and regulations. The following are some of the issues the preventive plan should include: The business must identify health risks to employees, consumer, and the general public. The business must take solid steps to ensure the product, or services rendered is not harmful to others. An employee of the business needs to be assigned and responsible to understand the laws and regulations that affect all facets of the business. This person needs to keep...
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...Recognizing and Minimizing Tort and Regulatory Risk Hector Sierra University of Phoenix Law 531 Businesses deal with tort liability and management in the day to day operations. Minimizing tort liability is a key factor in operating a successful business. Alumina Inc., has developed a plan to prevent, identify and implement corrective measures for handling tort liabilities. Recognizing and Minimizing Tort and Regulatory Risk Alumina Inc. is a $4bn U.S. based international aluminum company with eight locations worldwide. Alumina Inc. falls under certain government regulatory agencies and laws such as The Environmental Protection Agency (EPA), Occupational Safety and Health Administration (OSHA), and CERCLA. Alumina Inc. was reported to be in violation of environmental discharge five years ago. Even though Alumina Inc. corrected the violation, Alumina Inc. still faces a possible bad reputation because of this incident. Alumina Inc. has had a good record ever since that incident was corrected. A local resident of the community named Kathy Bates has accused the company of repeatedly contaminating the waters of Lake Dira before. Kathy Bates has now filed a complaint against Alumina Inc. in regards to suspicion that her daughter contracted leukemia due to the consumption of contaminated water. This complaint calls for an investigation of the company’s practices with regard to the Clean Water Act of 1972. However, traffic is causing water pollution in Lake Dira as well. Increased...
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...Recognizing and Minimizing Tort and Regulatory Risk Plan The key to an effective operating a business is proper management and preventive measures to limit the organizations tort liability. Tort liability and risk management has to be dealt within the day to day business of many organizations. Alumina tort liability and regulatory risk will be identified and a successful business plan will be designed to manage. Each liability for all detection, corrective, and prevention measures will be described. The plan will identify Alumina’s best course of action to reduce tort liability and expected results for risk management. Five years ago, Alumina had a liability that brought an action against the company. Due to previous lawsuits and recent complaints which revealed potential risks, the company has current tort liabilities. The list of tort liabilities and regulatory risks consist of the First Amendment, Defamation, and Freedom of Information Act. When compared to Alumina’s prior and current liabilities these risks are the most impacting. The company had to deal with accusations that the local water supply was still being polluted. Five years ago, the company was found guilty of the charges from a different case. The company has correct the issues and made the changes are in line with federal regulations. The company’s current accusation is founded to be unfounded defamation against the company. Public perception will be a motivator since the claim is originated in...
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...Recognizing and Minimizing Tort and Regulatory Risk Plan Jennifer Newcome Business Law 531 November 1, 2010 Bart Bodkin Word Count = 1,317 Recognizing and Minimizing Tort and Regulatory Risk Plan Alumina Inc. is an US-based aluminum maker. Their headquarters is situated on the fringes of Lake Dira in Erehwon; however it operates in eight countries. Alumina has business interests in automotive components and manufacture of packaging materials; bauxite mining, alumina refining, and aluminum smelting. Five years ago, Alumina was found to be in violation during a routine Environmental Protection Agency (EPA) compliance evaluation inspection when discharges of polycyclic aromatic hydrocarbons (PAH) were above the prescribed limits in test samples. This is also a violation of the Clean Water Act. In 1948, the Federal Water Pollution Control Act (FWPCA) was enacted to regulate water pollution by establishing water quality standards that define which bodies of water can be used for public drinking, recreation, propagation of fish and wildlife, and agricultural and industrial uses. Under the FWPCA, dischargers of pollutants are required to maintain monitoring equipment, keep samples, and keep records. This act is also referred to as the Clean Water Act. Alumina was in compliance, in part, by having the required monitoring equipment, keeping test samples, and recording the results of test samples. However, they were lax in the amount of PAH they allowed to pollute...
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...Recognizing and Minimizing Tort and Regulatory Risk Plan In this day and age and especially in this economy, the laws and regulations carry severe penalties, fines, damages and in some cases jail time. Therefore companies like Alumnia should be aware of current compliance of regulations, that way they can adjust their business practices accordingly and minimize exposure to tort liabilities as a result of not complying with regulations. Five years ago the EPA conducted a routine compliance evaluation inspection of Alumnia; during the inspection Alumnia was found to be in violation because their PAHs were above the prescribed limit, although this violation was corrected (UOP, Business Simulation, 2010). Although Alumnia had maintained a clean record since, they should make it a policy to review all environmental regulations that pertain to the discharges and the chemical contents and the effects on the environment to avoid future violations. In addition to the violation five years ago, the Erehwon Reporter along with Kelly Bates, a local resident were making claims that Alumnia continuously contaminated Lake Dira, which if proven would be negligence on the part of Alumnia, which would be a violation of the Water Quality Act; in addition they are pursuing a copy of the inspection report by the EPA via the Freedom of Information Act. Even though since that inspection Alumnia took corrective actions and has had a clean record since. In an effort to avoid bad press and possible...
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...Recognizing and Minimizing Tort and Regulatory Risk In this essay I will explain how regulatory risks may be identified and managed through preventive, detective, and corrective measures for such torts as negligence, product liability and defamation. For most businesses such torts are better handled before they happen. Companies make sure many issues are addressed in the company policy and regulations manuals when new employees are hired as well as in training sessions for topics such as sexual harassment and safety. For a Company such as Firestone Tires and Rubber for example, one type of negligence could be Negligent Hiring. If an employee in a supervisory position verbally abuses another or in an extreme case, assaults another employee with a tire iron used in the performance of his duties, the victim could claim negligent hiring on the part of the company where they both were employed. This could be the case if the aggressive supervisor has had a history of this type of behavior at a previous place of employment. This begs us to ask the question: Has the company made enough effort to fulfill its obligation of providing a safe working environment for its employees? As it was touched on before there are measures that can be taken before something like this happens. For one, the hiring manager could have followed up on references to possibly find out if the candidate for employment has had a history of violence in the workplace, or perhaps...
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