Tort Risk and Business Regulation Simulation Jane Thomas University of Phoenix Business Law/531 Thomas Friedman October 19, 2010 In today’s business world it is crucial for organizations to have a plan in place to identify and manage tort liability. This can be managed through preventive, detective and corrective measures. The purpose of a plan is for an organization to manage and minimize individual risks. Organizations that fail to comply with Federal, State, and local
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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
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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
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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
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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
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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
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9 March 2013 ERM PAPER: ASSIGNMENT 2: Identify potential tort risks that were addressed the simulation .Classify the type of each of these torts, such as negligence, strict liability, and so on. Identify a tort violation from the simulation. Then use the 7- step process as defined in the Harb article to apply the risk management to mitigate the business risk associated with that violation. The business regulation simulation presented involves Alumina Inc. aluminum maker, operating in 8 countries
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compliant business practices is an important part of any management strategy. As shown in the Business Regulation simulation; even one instance of increased liability can cause long-term concerns for a business. Each violation or perceived violation can open the business to questions of negligence and both legal and financial responsibility. To minimize these instances and create a business that has limited liability concerns it is important that management creates and maintains an effective risk management
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[pic] Course Syllabus Law 531 Business Law Course Start Date: 11/13/12 Course End Date: 12/24/12 Please print a copy of this syllabus for handy reference. Whenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document. Copyright
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Business Regulation and Essential Risk Management Lamont Clark, Cristina Mancha, Bobby Jo Sonon, Gwendolyn Wilson, Arnie Zhang, Business Law/531 22 April 2012 John Fossum Business Regulation and Essential Risk Management Common law placed the risk of loss to goods on the party who held title to the goods. Article 2 of the Uniform Commercial Code (UCC) rejects this notion and adopts concise rules for risk of loss that are not tied to title. It also gives the parties to a
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