...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...
Words: 782 - Pages: 4
...Introduction The tort of negligence has long attracted widespread interest. It fortifies community expectations and standards and hence ‘it is especially prone to influence by moral, social, economic and political values’. Of particular interest is the recognition of liability for negligently caused mental harm. Throughout its history courts have been cautious in awarding damages in fear of opening the ‘floodgates of litigation’. To assess whether further limitations should be placed on the scope of liability for mental harm in Western Australia or in fact Australia, we must look upon the history of ‘nervous shock’ law, the legitimacy of floodgate arguments and the effect of recent reforms and new legislative provisions in the various Civil Liability Acts. Development of the law The right to claim for negligently caused mental harm has been around for some 125 years dating back to the pre-federation Victorian case of Coultas v Victorian Railway Commissioners. It has consistently been far more tedious in establishing than claims surrounding physical harm due to a difficulty in distinguishing between real or imaginary/exaggerated claims. Seeing is believing and since psychiatric injury is not visible to the untrained eye, claims were long thought of as frivolous. In recent decades, however, medical identification of psychiatric injury has propelled legal recognition of it. As Gummow and Kirby JJ noted in Tame and New South Wales and Annetts v Australian Stations Pty Ltd,...
Words: 2302 - Pages: 10
...ge » Other Topics Tort and Conflict of Laws In: Other Topics Tort and Conflict of Laws CHAPTER 1 An Introduction 1.1 Introduction: The peculiar feature that tort occupies in private international law is that if the tortious act has been committed entirely locally, then lex loci delicti governs it, irrespective of the fact that whether it has or has not some foreign element, such as, both or one of the parties is domiciled or resident abroad or national of another country. The foreign law is applicable only in some very exceptional situations. Torts in Common Law countries mean civil wrongs to a person, to property, or to a person’s reputation. Common examples are negligent acts causing injury or deaths, conversion, trespass to property and defamation. 1.2 Research Methodology: In making this project report the doctrinal method of research has been used. 1.3 Focus area: This project report focuses on the tort under private international law. 1.4 Scope of the study: In this project report the meaning of tort and law applicable to tort under private international law has been explained. CHAPTER 2 Conceptual Analysis 2.1 TORT AND CONFLICT OF LAWS: Torts in Common Law countries mean civil wrongs to a person, to property, or to a person’s reputation. Common examples are negligent acts causing injury or deaths, conversion, trespass to property and defamation. The same act may be both a tort and crime: assault can be a cause of...
Words: 352 - Pages: 2
...all the reasonable steps to ensure that their premise was safe for customers. Clumsy is now suing Tesko for the $85000 incurred from the medical bill. “Confining your answer to the law in relation to tort advise Soo as to their right to bring legal proceedings against Tesko. Your answer should include the key elements that Soo would be required to prove in order to be successful in any such action”. Assignment Requirements: 1) You are required to write a report not exceeding 2500 words of your answer and findings, Font 12 Arial with 1.5 spacing and supported adequately with relevant case law and examples which must be submitted on the due date stated. 2) Referencing must be in APA format and plagiarism will not be tolerated. 3) You must also attach your Turnitin report together with your assignment. Causation is an element common to all three branches of torts: strict liability, negligence, and intentional wrongs. Causation has two prongs. First, a tort must be the cause in fact of a particular injury, which means that a specific act must actually have resulted in injury to another. In its simplest form, cause in fact is established by evidence that shows that a tortfeasor's act or omission was a necessary antecedent to the plaintiff's injury.A ‘tort’ is a legal wrong, for which the law provides a remedy. It is a civil action taken by one citizen against another and...
Words: 691 - Pages: 3
...Abstract July 2012, after one decade of the scandal ENRON and associates, the history was repeated, with one of the most prestigious banks, JPMorgan Chase had announced the losses of almost $ 5.8 billion from a dysfunctional trading operation, as a result of gambling with other people’s money, on Wall Street. JPMorgan’s report to the SEC that the bank recorded a $718 million loss from the London trades on its internal accounts, but did not report the loss in its first quarter earnings statement. Malicious act done with the falsification of its reports filed with the SEC, hiding large losses by declaring profit of $ 5 billion. The damage caused by JPMorgan Chase affected many people with their savings and credit through credit cards supported by this institution. Here the five biggest scandals at JPMorgan Chase: Energy scandals, where American government investigators say JPMorgan traders in Houston came up with eight different manipulative schemes to offer electricity to California and Michigan at prices to falsely appear attractive. The London Whale where JPM loss is $ 6.2 billion. Enabling Madoff, where JPM is responsible about $ 17.3 billion in investor money that was lost. LIBOR scandal, a key interest rate used in derivatives markets. The banks allegedly rigged the rates for profit, while costing other markets that use the rates – such as mortgage companies – billions. JPMorgan is one of banks Freddie Mac is suing over the LIBOR scandal. And finally...
Words: 1404 - Pages: 6
...Alumina and BP Introduction Running a business does not come without the existence of liability risk and legal issues. The question posed is what are the liability risks that could lead to legal issues and how will such issues be handled. When legal issues are present in the business sector due to liability issues, more likely than not, others are affected both directly and indirectly by the situation. How the situations are resolved depends upon those involved and the complaint. BP and Alumina have faced such issues and, as discussed below, have had to resolve the issues present within their companies through legal processes. Legal Issues and Principles Present BP The impact of the BP oil spill of 2011 will be felt by residents of Louisiana, Mississippi, Alabama, Florida, and Texas for years to come. The effects of this devastating incident in the Gulf of Mexico disrupted the way of life for many individuals in that region. The Deepwater Horizon drilling rig exploded dumping an estimated total of five million barrels of oil into the Gulf this was the worst oil spill in history (Goguen, 2012). The legal issues that arise from this tragedy consist of economic loss, environmental damages, property damage, emotional distress, and exposure to harmful substances. According to Goguen (2012), “Thousands of businesses and workers in the Gulf region have filed lawsuits against BP, seeking repayment for profits and income that were lost because of the oil spill. These plaintiffs...
Words: 1796 - Pages: 8
...Amendment Rights were set forth to protect the citizens of the United States and be governing by the Bills of Rights. As time passed and the U.S. changed the First Amendment, it became more of a pillar for free speech, free press and the right to peacefully assemble. The First Amendment, at its early stage, was only applied by laws by Congress but now it has been directed in the process of incorporating a clause through the Fourteenth Amendment – due process. The First Amendment protects as well as gives an understanding of what society can and cannot do as citizens of the United States. First Amendment/Defamation As a team, we are in agreement that the First Amendment protects defamation to an extent. For example, consider the media who report on current events all over the world. Journalists are the most accused of defamation due to the topics which are discussed. This in turn creates a stage that is known to the world as “correct reporting”. Freedom of speech, as characterized in the First Amendment, allows individuals the freedom to say what they want so long as it does not create falsehoods and defames the character of any one individual. First Amendment/Censorship Although the First Amendment gives people or companies the freedom of speech and press, they should use caution when conducting business. Companies should refrain from using language or product identifications that are misleading or fraudulent - “the law provides remedy to recover damages when the innocent...
Words: 774 - Pages: 4
...A federal agency such as (SEC) U.S. Securities and Exchange Commission is responsible for making sure they are enforcing the federal securities set forth. In order for this agency to be active in enforcing these laws Congress allows the agency to bring Civil enforcement actions against anyone whether a company or individual who has committed accounting fraud. By providing false information or any other violations of the securities law SEC makes it a requirement that people or companies submit quarterly and annually reports. These reports shows the SEC what your companies plan is for now and the future in regards to goals or any special projects you have in mind. Reports given to the SEC are posted where the public has access to all the information. There is always someone watching out for fraud from companies and as soon as the wrong information is given or the company is caught committing fraud, basically the SEC is notified and an investigation is done at that time. Please note there are five divisions with the SEC, Corporation Finance, Trading and Markets, Investment Management, Enforcement and Risk, Strategy, and Financial Innovation so SEC is always working hard to make sure laws are not broken. The SEC stated that the securities firm’s former officials, acting as agent for the bank engaged in rigging bids for guaranteed investment for contracts during the time of 1997-2005 in connection with $14.3 billion of muni bonds. There are certain elements for contracts...
Words: 959 - Pages: 4
...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...
Words: 1359 - Pages: 6
...Synopsis of Tort of Cases Paper Synopsis of Tort Cases A tort is the French word for wrong. There are three categories of torts which are intentional torts, unintentional torts, and strict liability. Tort law is basically what protects different types of injuries that arise from the different torts. Many lawsuits that are done use many of the different torts to look for monetary gain, or tort damages. Tort damages are basically monetary damages that are sought from the offending party (Cheese man, p. 95.para.2). There have been many scenarios that have brought up different tort damages. Sometimes there are just one specific situation tha starts the tort cases. As the following scenario is reviewed that different tort actions are described, the potential plaintiffs are identified, and the elements of the tort claim that constitute the plaintiff’s claim and how the facts conform to those elements are described. Tort laws provide remedial compensation for damages. Segments of tort laws included intentional torts against persons, negligence found under unintentional torts, special negligence doctrines for professionals, and strict liability and product liability for manufactures (Cheeseman, 2010). Under each tort segment are violations with descriptive terms to provide details of offenses. I an individual believe a wrongful event has occurred; the individual has the right to file a civil lawsuit against the wrongdoer. This type of lawsuit can be some with or without the aid of an...
Words: 1273 - Pages: 6
...Negligent Tort Jacqulyné Allmon BUS 670: Legal Environment Instructor: Timory Naples June 24, 2013 Negligent torts are deemed unintentional which is one of the most common types of torts business managers experience and one of the most expensive. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risks of injury or death associated with the use of the thousands of consumer products under the agency's jurisdiction. Deaths, injuries, and property damage from consumer product incidents cost the nation more than $900 billion annually. In this essay a product will identified that has been subject to recall by using the Consumer Product Safety Division website www.cpsc.gov, determine whether if the product had not been recalled and had caused harm to a consumer, the manufacturer would be liable in negligence, and identify and discuss a relevant consumer protection statute identified under “Consumer Protection” in conjunction with the product recall was previously identified. Jeep Liberty Strollers were recalled on June 19, 2013 under recall number 13-221. Kolcraft, the manufacturer, and CPSC have received 39 reports of inner tube ruptures causing the wheel rim to fracture and fly off as a projectile. “Of these, 18 included reports of injury, with 14 occurring while filling the tire with air by an adult caregiver. Two children received lacerations to their chin or leg while standing near the stroller and 16 adults received abrasions...
Words: 1398 - Pages: 6
...act is not strategized and as a result risks control the organization instead of the organization controlling the risks. To prevent this from happening it is necessary to engage what is known as Enterprise Risk Management (ERM) (Cheeseman, 2010). This essay will examine how ERM strategies can be used to mediate the effects of tort risks and violations. Potential Tort Risk The type of tort risk that was addressed in the simulation was injury to plaintiff, personal injury. Actual cause: Ms. Bates was claiming that if the Alumina Inc. situation had not occurred five years ago, then her daughter would not have leukemia. Special negligence doctrine: a tort that permits a person to recover for emotional distress caused by the defendant’s negligent conduct. Negligence Per Se: Violation of a statue that causes an injury, statue was enacted to prevent injury. Strict Liability (Rationale): The activities of Alumina Inc. five years ago did place the public at risk, even though reasonable care was taken. These tort risks would be classified as Unintentional Torts (Cheeseman, H. R., 20120). The simulation also presented some other tort risk. The tort risk would have been a result of Alumina Inc., counter suing Ms. Bates. Defamation of Character: Untrue statement of fact was made about Alumina Inc., and the statement was intentionally published to a third party. Though it is a fact that m. Bates daughter had leukemia, it is not a fact that the leukemia was caused by Alumina...
Words: 1727 - Pages: 7
...a particular emphasis on the formation and operation of business contracts. Learners are encouraged to explore the content of these agreements and then develop skills relating to the practical application of business contracts, including offer, acceptance, intention, consideration and capacity. Relevant case law examples will be covered. Learners will consider when liability in contract arises, the nature of the obligations on both sides of the contract, and the availability of remedies when a contract is not fulfilled in accordance with its terms. Additionally, the unit will enable learners to understand how the law of tort differs from the law of contract and examine issues of liability in negligence relating to business and how to avoid it. Aim: The aim of this unit is to provide learners with an understanding of aspects of the law of contract and tort and the skill to apply them, particularly in business situations. Key Objectives: 1. What are...
Words: 5678 - Pages: 23
...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...
Words: 1150 - Pages: 5
...Contract Administration Preparation of log book BSc construction management Contents 1. Roles and relationships 2.1 Conflicting professions 2.2 Consultant roles 2.3 Professional service agreements 2. procurement systems 3.4 Procurement 3.5 Design and build 3.6 PFI - private finance initiative 3. contractor selection and tendering procedures 4.7 Purpose of tendering 4.8 Selective tendering 4.9 Negotiation 4. contract choice (JCT/NEC etc.) and contract terms 5.10 Standard form 5.11 JCT Joint contracts tribunal 5.12 NEC New engineering contracts 5. liability in tort (and the duty of care) 6.13 Tort 6.14 Liability in tort 6.15 Duty of care 6. contractor’s/employers obligations 7.16 Terms of contract 7.17 Contractors obligations 7.18 Employers obligations 7. time in contracts 8.19 Commencement 8.20 Extension of time 8.21 Completion 8. payments (including variations and loss and expense) 9.22 Contract price 9.23 Variations 9.24 Loss and expense 9. ensuring performance 10.25 Retention money 10.26 Insurance 10.27 Bonds 10. sub-contracting 11.28 Sub-contracts 11.29 Prevalence of sub-contracting 11.30 K 11. References 12. Appendices – further reading 1. Roles and relationships 1.1 conflicting professions...
Words: 3519 - Pages: 15
